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How Does Affordable Term Life Insurance Work?

Life insurance guarantees payment of benefits upon the death of the insured person. If your death or your spouse's death would cause negative financial consequences for your family, you probably need life insurance. Affordable term life insurance is an option that provides pure coverage. It differs from whole life insurance in that with term insurance, there is no cash value or benefits unless you die. Usually, it is used for a temporary need or for young families who need a large amount of protection for a low price.

Affordable term life insurance for a term of 15 or 20 years can pay your family's bills if you die. For example, upon your death, your family could use the money toward your funeral, the mortgage on your house, or for medical bills. If you would rather opt for something permanent, most affordable term life insurance policies can be converted to a permanent life insurance plan.

How Does it Work?
Term life insurance works in a similar way to auto or homeowners insurance. You pay your premiums and if you have a valid claim (e.g., if you pass away), the affordable term insurance company pays. If there is no claim, you have paid the premiums for the duration of the policy (the "term") and in exchange, received protection in case of your untimely death.

At Spectrum Direct, we offer convenient internet service where you can receive a quote for affordable term insurance directly to your email inbox. We enhance this with our highly trained customer service representatives, combined with the expertise of our licensed insurance agents. We offer the highest quality companies and the most competitive prices on term life insurance rate offers. Request an instant online quote for affordable term life insurance to compare policies and find the best term life insurance rate.

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