Term Life Insurance in Oregon & How Much to Buy

Term Life Insurance is designed to offer financial coverage to help your family pay off your outstanding debts, meet your ongoing financial obligations, and cover your final expenses. Your life insurance benefit can also be used to replace your income and help your loved ones continue to pay everyday expenses like rent/mortgage, groceries, and so on. Life insurance isn’t a fun thing to think about, and it may seem like an unnecessary expense. But if you have people who depend on you for financial support, then life insurance is really about protecting them in case something happens to you – your designated beneficiary would collect a financial benefit upon your death.

Term Life Insurance: This is the simplest and generally the cheapest form. You buy coverage for a specific period of time. It can usually be renewed, but premiums will increase based on age and health factors. There is no cash value.

How Much Term Life Insurance to Buy to Protect Your Oregon Family?

Many Oregonian people decide based on an income replacement calculation, between 5 and 10 times the amount of your current income.

Think about your personal circumstances: Is yours the sole income in your household? Are there other expenses, such as college tuition, that may arise in the future? Don’t forget to include potential medical and funeral costs. Above everything, you want to be sure your family does not get stuck with bills, debts or expenses that they cannot afford. Depending on your needs, you may want to consider buying supplementary coverage beyond what  offers.

Why Purchase Now?

Buying term life insurance in Oregon may seem unmanageable right now, but it could be a smart decision. Unlike many other policies, term life insurance is actually more affordable right now than in the recent past. Plus, during this tough economic period, ensuring that your family will be financially secure in the future is more important than ever.

Start the process of purchasing term life insurance in Oregon with our quick, easy quoting tool: https://nwsia.com/term-life-insurance/

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