Term Insurance: Short Time, Good Benefits

2007-07-18 16:23:30

( Insurance )



Insurance, in simple terms, refers to a financial package meant to protect anyone who depends upon you for financial support. But insurance policies often demand that you pay the insurance company year in and year out. Can you afford such premiums when all you want is a short term insurance that will guarantee that you don’t have to pay for expensive repairs if your car is damaged, or that you can guarantee your safety if you are traveling abroad and might need medical help?

Term Insurance

Term insurance is a type of insurance package. If you think you need term insurance, remember these three key aspects: you have a policy, which is for the life of a person insured, or for the upkeep of an object, such as a car or a house; you have a payout, which is assured for a specific time, with a specific premium; and your policy will not accrue – or accumulate – any cash value. Unlike permanent life insurance rates, term life insurance rates are much, much cheaper.

When purchasing term insurance, take note of these three important factors.

First, the face amount will be the exact value of protection your beneficiary or beneficiaries will receive.

Second, you also have to pay a premium, as policy owner, upon purchase.

Third, consider the term, or the length of time the insurance will cover your specific needs. Most insurance companies will put up term insurance for sale with packages involving combinations of these three factors, coupled with a declining or a constant face amount.

What kinds of term insurance packages are there?

Short term car insurance

You’re coasting along the highway, or down a country road, when out of nowhere comes a tractor, or a truck. You are nearly smashed to smithereens, and your car nearly becomes part of the road. How are you going pay for repairs? More importantly, where are you going to get the money to buy a new car?

Short term car insurance packages can allow you to protect your car, and to avail of insurance benefits that will allow you to buy a new car, or repair the old one.

Short Term Medical Insurance

You’re traveling through the Greek Islands on holiday, when all of a sudden, you slip and fall, and injure yourself; or you suffer a heart attack that can be fatal if not treated immediately. Where will you get the money for treatment abroad? Can you fly home and be treated without draining your budget.

Short term medical insurance can make sure that you don’t have to worry about medical care while you’re on vacation. All you need is to pay a fee.

If you think you might want to purchase term insurance, then talk to an insurance agent, or someone familiar with term insurance packages. There are many more types available, and they all can meet your needs.


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