There are several good reasons people choose to buy a term life insurance policy instead of purchasing permanent life insurance.

One of the most common reasons is Price.

Permanent life usually costs up to 5-10 times more for the same amount of life insurance compared to term life.

That means, you can buy a lot more protection for your family by choosing a term life insurance policy.

Another popular reason is Flexibility.

With term life you choose the duration of coverage you need your life insuran...

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Term life insurance is a type of life insurance policy that provides temporary protection lasting for a specific number if years.

Usually, term life offers coverage for a period of 1 to 30 years.

Most life insurance policies for term life coverage are either 10 or 20 years in duration.

However, you may be able to choose a policy "term" of 10, 15, 20, 25 or 30 years, depending on your age.

Learn more about how many years term life insurance has.

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The number of life insurance policies you have will depend on how much life insurance you need and how many life insurance policies insurers may allow you to purchase.

Yes, you can own two or more life insurance policies.

Since your life insurance needs may change throughout your life, insurers will allow you to own more than one life insurance policy.

However, they ask about the amount of life insurance you already own when you apply for life insurance. They want to make sure you aren't over-in...
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Yes, one person can own two or more life insurance policies.

Many people buy several life insurance policies because different types of life insurance products best meet different types of insurance needs, or simply because they want to diversify the insurance companies with whom their life insurance is with.

Life Insurance companies don't mind how many life insurance policies you own, as long as you can qualify for them financially.

That means, if you earn enough income to q...

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According to LIMRA in 2011, 7 in 10 U.S. households own some type of life insurance coverage.  

Nearly half of all U.S. households own individual life insurance policies.  Fifty-eight million, or half of U.S. households say that they need more life insurance protection, that they feel they are under-insured.  

Most individual life insurance policies "In Force" are permanent life insurance (71%) rather than term life insurance (29%).

Life insurance is one of the most important p...

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Yes, you can have two or more life insurance plans.

Over time you may find your need for life insurance coverage has changed, whether it's due to a life changing event, like getting married or buying a new home, or you have taken on additional debt.

No matter what the cause of your additional need for life insurance, it is possible for you to own two or more life insurance policies.

When you apply for life insurance the application has a question about any other life insurance you already own an...
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