What’s going on with my life insurance?

If you’re like most Americans, you originally bought term life insurance because you figured you would only need it for a limited amount of time. At the end of the term:

  • You’d have enough money to retire
  • Your family wouldn’t need to depend on your income

Now that you’re close to the end of your term, especially if your health has declined, you may be wondering:

  • Will my family be okay financially when I die?
  • What happens if I get sicker?
  • What if I want to maintain my coverage?
  • How can I afford to keep it, but how can I afford not to?

We all have our reasons for holding onto our life insurance policy. But doing so affordably may be more difficult than you think. And the need to act might be sooner than you think.

 

Next: Age, health, and the term insurance gap