The decision to buy life insurance can be the most important decision you ever make for your family. It can mean the difference between your family maintaining their current lifestyle, kids going to college, and even not having to sell the family home should you die. Having the breadwinner of the family die unexpectedly is traumatic for everyone. Losing the income from that person makes a very difficult situation even worse. Purchasing a life insurance policy can eliminate some of your family’s worries and stresses should something happen to you. Not to mention, provide you with the peace of mind that your family will be financially able to continue the lifestyle that they have grown accustomed to should you not be able to provide it any longer due to death.
There are two main types of life insurance, term insurance and whole life insurance. This article will focus on Gerber Life Insurance Company’s 10-year term insurance.
As the name of the life insurance policy states, Gerber’s Life Insurance Company’s 10-year term insurance policy lasts for a 10-year term and there is no cash value to the policy. This is unlike whole life insurance that has no fixed term and provides a cash return should you decide to end the policy during your lifetime. The advantage of 10-year term insurance is that the rates are dramatically lower than whole life insurance. In fact, 10-year term life insurance rates can be a fraction of whole life for the same amount of coverage. Many policy holders are quite amazed at the low 10-year term life insurance rates for substantial amounts of coverage.
Whatever policy you decide you purchase, you have made a very smart decision for your family’s future.