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Term life insurance is a kind of life insurance that ensures the payment of a set death benefit if the insured person passes within a certain time period. When the term life insurance policies expire, the policyholder has the option or right of renewing it for another term, converting the policy to permanent coverage, or allowing the policy to lapse.
Each of these serves a specific purpose, depending on your situation, life stage, and net worth.
Term life insurance is meant to provide the most insurance coverage for the least amount of money. Term life is usually recommended for young families because of its low cost. It gives you more purchasing power for a higher quantity of coverage than permanent insurance.
Life insurance has a single purpose: to replace your income if you die.
A term life insurance coverage worth 10 to 12 times your annual salary is recommended. If you earn $50,000 per year, you should have at least $500,000 in coverage. If something occurs to you, your salary will be compensated for your family. You need enough to cover your family’s outstanding debt and other related expenses.
This isn't easy to contemplate. But the truth is that life is valuable! We can't look into the future, and tomorrow isn't guaranteed. The cost of failing to prepare or think for the unthinkable is far more than the cost of term life insurance. You must ensure the safety of your loved ones.
Protecting your family’s future is a big responsibility, but we can make it easier. When you work with Leap | Carpenter | Kemps Insurance Agency, you can rest assured that just like you’ve got your family’s back, we’ve got yours.
We offer the most extensive range of life and health insurance options in the region.
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Leap | Carpenter | Kemps Insurance Agency provides Commercial Business Insurance, Employee Benefits, Life and Health Insurance, and Personal Insurance to all of California, including Merced, Atwater, Los Banos, Mariposa, Madera, Fresno, Modesto, Turlock, and Stockton.
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Merced Office
3187 Collins Drive
Merced, CA 95348
Phone: (209) 384-0727
Additional Contacts
Toll Free: (800) 221-0864
Fax: (209) 384-0401