The Benefits of Term Insurance

Term insurance is a product that has many benefits, especially if you are young, first-time home buyers who want to be placed with a policy that is best suited for your needs. Unfortunately, it is a product that many clients glance over in favor of traditional mortgage insurance. The benefits of Term insurance are best utilized while the client is young and healthy so that they can get the lowest rates possible.
 
As an example, we recently had a client (let’s call him Ned) who wanted to renew his term insurance through our company. Initially, Ned only took out a 10-year term with Broker Plus Insurance company at the age of 28, despite the fact that we also offer Terms of 20, 30 and 100 years. The issue that arises now when Ned renews his insurance is that he is rated at a higher age, hence his premiums have increased substantially. Had Ned taken a 30-year term, his premiums would not have increased until he renews his insurance at age 58.
 
The most common thing we hear from our clients is that they want the best coverage possible for them and their family. For many of us, Term coverage is the best option for them as the coverage is renewable and convertible with no medical underwriting required when the coverage renews. We can also offer coverage from $25,000 up to 5 million to ensure that all of their insurance needs are being met.
 
The other benefit your client has when choosing a Term insurance product through Broker Plus Insurance is that they have the option to choose 6 optional riders.
These riders include:

• Accidental Death Benefit
• Children Protection Benefit
• Child Critical Illness
• Critical Illness
• Mortgage Protection Benefit
• Waiver of Premium

 
Whatever your families’ needs are, let Broker Plus Insurance walk you through the benefits of our products and how we can protect your family, investments, and future.  

To request a quote on the products we offer, click here.
Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.