Buying Term Life Insurance in Your 50's

Are you in your fifties and considering the purchase of a term life insurance policy?

If so, you may find term life insurance to be more affordable than you expected.

Term life offers people in their fifties the option of choosing coverage for a duration of 10, 15, 20 or even 30 years, if you qualify for coverage.

But, there's some things you should know before buying your policy.

First, since term insurance is temporary, you may outlive your life insurance policy, leaving you with no coverage later in life.

Second, term life does not build cash value, it is pure life insurance protection, so there's no money inside the policy from which you can request a loan.

And, you don't get any premiums back if you outlive the policy term, unless you choose to purchase return of premium term life insurance which has higher premiums than regular term insurance.

Learn more about buying term life insurance in your 50's.