Issue link: http://read.dmtmag.com/i/63224
Term Life Insurance You see them everyday – fl yers in your mailbox, touting low term life insurance rates. TV, radio, magazine and newspaper ads claiming you can protect your family for a few dollars a day. If you use a home computer regularly, the same type of ads pop up or appear frequently in your web browser; some have links to web sites where you can search dozens, if not hundreds, of companies for the lowest possible rate. You have to ask yourself, "Why is Term Life Insurance so popular?!" ... Because Term Life Insurance can provide the largest immediate death benefi t for the minimum premium dollar. Term life insurance is substantially cheaper when compared to traditional whole life policies. As the name implies, term insurance is temporary, for a set period of time. It provides pure protection from disruptions of specifi c life situations with a set duration – like covering college educations, a home mortgage, or the care of children or other dependents in the home. Pure protection means that the premiums are used only to provide death benefi t, so no cash values are built up. Premiums are kept low compared to permanent insurance because of the short durations and the element of pure protection. 18 National Catholic Forester — 2011 Annual Report