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Term Life Insurance

Life insurance is not something everyone likes to discuss, but if you want to protect your future earnings and provide a safe future for your relatives after you are gone, life insurance is a very good option. Money from life insurance can give the ones who depend on your financial support an income if you die suddenly. Life insurance funds can also be used to cover any taxes and final costs due at your death.

The life and health brokers at KTX Financial are experienced, patient and dedicated to providing stellar customer service and therefore excel at helping their clients acquire the protection they need. In addition, the brokers at KTX do not work on commission, so there’s no sales pressure and no obligations - just low rates.

In order to help customers get idea of how much life insurance they need, KTX Financial has teamed up with to offer 2 useful and easy to use online life insurance tools.

In addition, customers also have access to a great quote comparison tool so they can compare life insurance rates easily online. The comparison tool is completely free, easy-to-use and takes only a minute. By getting a quote, you can secure cheap life insurance online by seeing in black and white what insurers will offer you the best life insurance rates for your specific needs.

What is life insurance?
Life insurance is basically a contract between the policyholder and the life insurance company. This contract, or life insurance policy as it is more commonly known, is an agreement between you (the policyholder) and the life insurance company where the life insurance company promises to make payment of the face value of the policy, upon the death of the policyholder.

Affordable life insurance policies offer the policyholder’s dependents financial protection. The best life insurance option will depend on your personal circumstances. That’s where a life insurance agent or life insurance broker can help; a qualified life insurance agent/life insurance broker is key in helping you decide what types of life insurance will best meet your needs, and how much life insurance you should have; both which ultimately affect your final life insurance cost.

The types of life insurance
What types of life insurance are out there? Life insurance can be boiled down to two basic forms: Permanent Life Insurance and Term Life Insurance.

As the name suggests permanent life insurance is designed to cater to permanent needs. For the average person, these needs include supplementing a survivor’s income, as well as financial security for children who may remain dependent for their lifetimes due to disability or other factors. As a rule of thumb, permanent needs require permanent life insurance.

Term life insurance on the other hand, covers temporary needs. The primary examples include mortgage obligations and support for dependent children to maturity.

How much is enough?
The crux of any financial needs analysis is to determine how much life insurance is needed in order to offset the loss of your income. This amount often includes sufficient provision towards outstanding debts, dependent children and funeral expenses. All these factors are considered when calculating how much life insurance you’ll need, which of course will affect the amount of your life insurance quote.