When should I consider buying a term insurance policy?
A term insurance policy is generally used when the need for protection against death is temporary or if you are unable to afford the premiums of a permanent life insurance policy. A term insurance policy typically provides for the largest immediate death benefit pound amount for each premium . It is appropriate if you are seeking protection for a specific need that will end at a future date such as to cover mortgage expenses, to repay a loan or to replace income should the household’s main income earner die prematurely before the date that they are due to retire and are still relied on to make certain payments .
