A life insurance policy is designed to cover any monetary expenses you leave behind, including funeral costs and debt. The two most common types are permanent and term life insurance, but in many cases, the latter policy provides more benefits. Take a closer look at why you should opt for this coverage below.

Why to Purchase Term Life Insurance Over Permanent

1. Cost

One of the biggest benefits of term life policies is the cost. Since it's a short-term option, insurance companies typically offer much lower prices than they do with permanent coverage. This arrangement allows you to pay for what you need without creating a financial burden.

2. Flexibility

Not only can you choose from a variety of term lengths, but many providers also offer the option of rolling the plan over into a permanent variation. This process ensures you save a substantial amount of money upfront while also providing the opportunity to change your mind down the road.

3. Protection

For many individuals, the goal of obtaining coverage is to financially protect their loved ones in the event of their death. Your insurance can be used to cover a variety of expenses, from funeral costs to mortgage and auto loans. You can choose the coverage level of your plan to make sure costs are handled sufficiently and your loved ones have financial support.

Find a term life insurance policy that matches your needs with the help of PFS Group in Brooklyn, NY. For over three decades, the trusted insurance agency has helped residents throughout Queens, Crown Heights, East New York, and Flatbush protect their families and assets. They’ll work closely with you to understand your situation and develop an individualized policy that suits your needs. Request your quote online or by speaking with an insurance agent at (718) 385-5300.