Sometimes financial obligations are temporary, and that’s where term insurance brings the most value. Like permanent insurance, term insurance provides a death benefit to beneficiaries, but only within the specific time period.
Maybe you have a 30-year mortgage. Maybe you have 10 years left until retirement. Maybe you have two children who are about to go through college. In time, the mortgage will be paid off, retirement will arrive at last and the kids will finish college. Once those days come, your insurance needs will change. Term insurance can provide extra protection at affordable rates that – if structured properly – will go away once the needs themselves go away.
The Knights of Columbus offers two basic types of term insurance:
Among the advantages of an economical premium, term plans can be converted to a permanent plan of protection with no additional underwriting required at any time prior to age 65. Termplans can be used to guarantee your insurability. If you need lifelong protection but the premiums for permanent insurance just aren’t in the budget right now, purchasing a term plan with the intent to convert in the future is a very viable option.
I would be very pleased to meet with you at your convenience to discuss how our Knights of Columbus Term Life Insurance can be structured to meet your concerns, needs and goals.
Jimmy Yamauchi – FDD
KofC Field Agent