Benefits Offered by Term Life Insurance in Wichita KS


Purchasing Term Life Insurance in Wichita KS is an affordable alternative to a more costly permanent life policy. However, being more affordable is not the only advantage that is offered by this type of policy. A term policy is also easy to understand, easy to buy and much more flexible than whole life policy options.

Term vs. Whole Policies

There are two primary types of life insurance policies: Term Life Insurance in Wichita KS and whole life insurance. The term policy allows the buyer to determine the length and the amount of the policy purchased. Whole life insurance combines some type of investment product, along with the actual coverage.

Advantages of a Term Life Insurance Policy

The Term Life Insurance in Wichita KS is very easy to understand. They buyer pays a low and fixed monthly premium based on the amount of coverage and the length of the policy. In most cases, people choose from lengths of 10, 20 or 30 years. The amounts can range from a few hundred thousand dollars up to millions of dollars.

The whole life insurance policies are often more costly because of the investment aspect that it offers. While the term insurance is typically more affordable, whole life policies will cost several thousands of dollars annually.

Taking the time to compare the various options regarding insurance will help anyone determine what is right for their particular needs. Keep in mind, if the person outlives the term insurance, they will have to purchase a new policy, often at a higher rate than before because they have aged and their health has changed. While whole life policies are more costly, they will last the entire life of the person. This means they will have coverage without interruption until they die.

Andy Woodward Insurance Agency offers additional information regarding life insurance and what the best option for a particular person is. Taking the time to become informed will pay off in the long run. Don’t just purchase insurance without fully understanding what it has to offer. This will help to ensure that adequate coverage is purchased for a price that is affordable for the person.

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