Top 10 Reasons Not To Purchase A 10-Year Term Insurance Plan

1. You have a mortgage with an amortization period (that is, the number of years to pay off your mortgage) greater than 10 years. Don't be fooled! A 10-year term can prove to be very costly for a 20 or 25 year amortization period.
2. You expect to change jobs or advance in your career that would require you to move.
3. You expect to upgrade your home or buy a bigger home.
4. You have a young family and expect to have more children.
5. You are much more than 10 years from retirement and would like to provide a portion of your income to your family should you die unexpectedly.
6. You have a financial obligation toward your children that are much more than 10 years from completing their education programs.
7. You have a personal or business loan, line of credit, or credit card that you do not expect to pay off in 10 years.
8. You wish to protect your family and/or beneficiaries from estate taxes.
9. You wish to provide funds for your funeral.
10. You wish to give a charitable donation.
    

 

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Top 5 reasons to purchase a 10-year term insurance plan.

 

 

 

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