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  • Writer's picture Leslie Lewis (she/her)

What is Term Life Insurance?

A financial strategy for people who have dependents, term life insurance is a useful way to consider to create peace of mind for parents of young children in case the unthinkable happens.

Term life insurance is a policy that pays your beneficiaries if you die within the term limit, usually somewhere between 5 and 30 years. It's useful for financial obligations like college, a mortgage on a home, or for stay-at-home parents, to cover the cost of hiring a caregiver in case something awful happens.

Term life insurance was emphasized to me as a financial fluency strategy by Mical Jeanlys-White, the Founder and CEO of Wealthmore, an up-and-coming financial advisory service (check them out!) and that's us in the photo below.

Mical says, "Insurance is love. If you have loved ones who depend on you financially like children or an aging parent, or siblings with a disability, term life insurance protects them. And do it sooner rather than later-- It's more affordable the younger you are."

Do you have Term Life Insurance? Have you ever thought about getting it? Do you have any other questions about it? If so, drop them in the chat and let's talk!

And as always, thanks for reading this.

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