Reader’s Question:

I did not understand when my life insurance agent in Baton Rouge, Louisiana talked about term life insurance. What is it?

Trent,

Baton Rouge, LA

The term life insurance that is available in Louisiana and is one of the basic types of life insurance coverage. This is a form of life insurance that is governed by a certain period of time. The period of time which you can choose from may start from five years, ten years, fifteen years or even thirty years and even until you reach the age of 65 years old or even 70 years old. It all really depends on which time period you desire to get. The payment for the policy will not usually rise during the course of the policy.

If ever the insured dies within the given term period, the benefactors will be receiving cash death assistance. But if, you, the insured survived and surpassed the term period, you can choose to maintain your yearly coverage and restart a new premium by paying a much higher one. With this type of life insurance, it will also give you an option of changing your policy to a permanent policy without undergoing another medical examination with your family doctor. It also does not accumulate any values such as those related with Whole Life Insurance policies.

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