5 Year Term Life Insurance Cincinnati OH

5 year term life insurance has been around in insurance circles for a very long time. It can be sold as a policy or as a rider to a permanent life insurance policy.

Local Companies

Northwestern Mutual - David Shuley
513-366-3647
3805 Edwards Rd
Cincinnati, OH
Wagner Ins Agency
513-574-3600
4466 Bridgtwn Rd
Cincinnati, OH
Cincinnati Federal Savings And Loan
513-921-1465
4310 Glenway Ave
Cincinnati, OH
Owens & Grimes Insurance
513-231-2900
1208 Collinsdale Ave
Cincinnati, OH
Cook Insurance
513-923-3227
5626 Cheviot Road
Cincinnati, OH
Mark A Rotert Insurance Agency
513-346-3200
12181 Princeton Pk
Cincinnati, OH
Iori Insurance Agency
513-347-9190
3310 Westbourne
Cincinnati, OH
Heritage Wealth Management
513-769-6989
4055 Executive Park Drive Suite 230
Cincinnati, OH
Benefits Network
513-247-2700
4555 Lake Forest Drive
Cincinnati, OH
American Heritage Insurance Group
513-984-5255
9370 Main Street Suite E
Cincinnati, OH

Why 5 Year Term Life Insurance

5 year term life does have it's place in the portfolios of many life insurance buyers and can fulfill a very important need. If you have a short term need for life insurance then this type of insurance may be for you. If you find it necessary to take out a loan for a short period of time a five year term policy on your life can assure the lender that if you should die before the loan is repaid they will get back their money. Certainly that is a good reason to buy this type of insurance. You may take the loan to pay for a college education either for yourself or a child or grandchild.

The face amount of the 5 year term policy remains level for the duration and so does the premium. Even though it is initially taken out for 5 years some companies allow you to continue beyond the initial 5 year period at a higher premium. The death benefit is more often than not free of income taxes. You may convert your policy to permanent insurance in the future.

Waiver Of Premium Rider

It may be wise to add a waiver of premium rider to your 5 year term life insurance policy. If you should become disabled, anytime after 6 months of disability, the life insurance company will take over the payment of your premiums for you, even if it is for the rest of your life. Think about it for a moment. Do you realize that people become temporarily disabled an average of about 5 times during their lifetimes. If you become disabled for at least 6 months with most companies they will pay your 5 year term life insurance premium for you. Now isn't that amazing.

Accidental Death Benefit Or Double Indemnity Rider

The famous double indemnity rider can also be attached to your policy. If you should die in an accident the life insurance company will pay to your beneficiary twice the face amount. Let us suppose you bought a $500,000 5 year term policy with one unit of accidental death benefit for each $1,000 of your policy and you died in an accident. The life insurance company would pay $1,000,000 to your family. That would be just beautiful, wouldn't it.

Click the link below to learn more about 5 year term life insurance and many other types of life insurance.

About the Author:

Donald Lusan

For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and best life insurance companies in the United States as well as Canada. His advice is invaluable.
Donald's website is: http://www.lifeinsurancehub.net


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Featured Local Company

Northwestern Mutual - David Shuley

513-366-3647
3805 Edwards Rd
Cincinnati, OH
http://www.davidshuley.com