By Andrew Bird

Term insurance is the simplest form of life insurance. It provides temporary life insurance protections on a limited budget.

When a policyholder buys term insurance, he or she buys coverage for a specific period and pays a specific price. If the policyholder dies during the term of the insurance, his or her beneficiaries receive the benefit from the policy.

If he or she outlives the term of the policy, it is no longer in effect. The person would have to reapply to receive any future benefit.

Unlike permanent insurance, term insurance only pays a death benefit. That’s one of the reasons it tends to be less expensive. Many find term life insurance useful for covering specific financial responsibilities if they were to die unexpectantly. Term life insurance is often used to provide funds to cover dependents, mortgages, and other debts.

Several factors will affect the cost and availability of life insurance including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges.

You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

Would term life insurance be the best coverage for you and your family? That depends on your unique goals, needs, and circumstances.

You may want to carefully examine the pros and cons of each type of life insurance before deciding what type of policy will be the best fit for you. Speak to your local qualified insurance agent who can show you all your options and help you make a decision.

Andrew Bird, and agent at Financial Concepts in Mesquite, specializes in Medicare and Insurance services. Andrew Bird can be reached at 702-346-7025 or by email at