Reader Question:

I am a nurse looking for life insurance. What is a term life insurance policy and where should I look to get a quote in Houston?
Lisa

Houston, Tx

Good question Lisa. There are two different kinds of life insurance policies.

• Whole Life-Covers you for your whole life until you die and is often combined with an investment element.
• Term Life-Covers you for an established period of time of one to thirty years.

After the term expires there may not be as much of a need for life insurance because you have paid off your debts such as a mortgage or you have retired. Life insurance covers you for premature death when you may have dependents or debt.

One of the benefits of term life is the lower rates. This makes it possible to afford a larger death benefit than if you were to purchase a whole life policy for the same rate. You can also take the money you save on the term life insurance and invest it yourself. Another benefit is that the premiums remain the same throughout the term. If you are young and healthy you pay a lower premium. So take advantage of the low rates and lock them in when you are young.

Thank you for the service you provide to us as a nurse. I hope I have returned the service in my small way to help you.