Call Us (865) 966-2111 ☰ ˟
Logo
Call Us (865) 966-2111
  • Home
  • Our Agency
    • AboutImage of right arrow
      • Our Team
      • Refer a Friend
      • Discount Programs
      • Switching Insurance Companies
      • Privacy Policy
    • Our LocationsImage of right arrow
      • Knoxville
      • Dayton
      • Madisonville
      • Kingston
    • Get A Quote
    • Testimonials
    • Our Providers
  • Get a Quote
    • Auto Insurance Quote
    • Business Owners (BOP) Quote Form
    • Homeowners Insurance Quote
    • Life Insurance Quote
    • General Liability Quote Form
    • Classic Car Insurance
    • RV & Travel Trailer Insurance Quote
    • Watercraft Insurance Quote
    • Renters Insurance Quote
    • Workers Compensation Insurance Quote
  • All Products
    • Auto InsuranceImage of right arrow
      • Classic Car
      • Medical Payments Coverage
      • Minor Violation Forgiveness
      • Personal Injury Protection (PIP)
      • Rental Reimbursement
      • Uninsured/Underinsured Motorist Coverage
    • Home InsuranceImage of right arrow
      • Homeowners Liability
      • Landlords Insurance
      • Mortgage Protection
      • Scheduled Property Insurance
      • Renters Insurance
    • Farm InsuranceImage of right arrow
      • Crop Insurance
      • Farm Owners Insurance
      • Farm Livestock Insurance
      • Equine Insurance
      • Farm Equipment Insurance
      • Farm Dwelling Insurance
      • Farm Structures Insurance
      • Farm Auto Insurance
      • Farm Umbrella Insurance
      • Farm Liability Insurance
    • Life InsuranceImage of right arrow
      • Disability Insurance
      • Group Life Insurance
      • Individual Life Insurance
      • Long-Term Care Insurance
      • Second-to-Die Policy
    • Personal Umbrella Insurance
    • Powersports VehicleImage of right arrow
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Snowmobile Insurance
    • Coverage For Your BusinessImage of right arrow
      • Surety & Fidelity Bonds
      • Business Catastrophe Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Real Estate Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Equipment Insurance
      • Errors and Omissions Insurance
      • Extortion Insurance
      • Fidelity Bonds
      • Leave Management
      • Inland Marine Insurance
      • Loss Control Insurance
      • Kidnapping Insurance
      • Marine Insurance
      • Mechanical Breakdown Insurance
      • Office Insurance
      • Product Liability Insurance
      • Professional Liability Coverage
      • Ransom Insurance
      • Shipping Insurance
      • Small Business Insurance
      • Small Business Liability Insurance
      • Storage Insurance
      • Surety Bonds
      • Technology Insurance
      • Trailer Insurance
      • Transportation Insurance
      • Trucking
      • Workers Compensation
      • Van Insurance
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Insurance for Arborists
      • Bar Insurance
      • Box Truck Insurance
      • Builders Risk Insurance
      • Car Dealership Insurance
      • Cargo Insurance and Freight Insurance
      • Cleaning Business Insurance
      • Construction Insurance
      • Consulting Firm Insurance
      • Contractors Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Dental Practice Insurance
      • Dump Truck Insurance
      • Educational Facility Insurance
      • Financial Institution Insurance
      • Fleet Insurance
      • Handyman Insurance
      • Garage Insurance
      • Healthcare Facility Insurance
      • Healthcare Practice Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Liquor Liability Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Maritime Employers Insurance
      • Media & Advertising Insurance
      • Medical Malpractice Insurance
      • Non Profit Insurance
      • Nursing Home Insurance
      • Nursing Insurance
      • Orthotics & Prosthetics Insurance
      • Personal Trainer Insurance
      • Pharmacist Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Railroad Contractors Insurance
      • Real Estate Businesses Insurance
      • Retail Insurance
      • Scrap Metal Insurance
      • Security Guards Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Snow Plow Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tractor Insurance
      • Tow Trucks Insurance
      • Water Well Drillers Insurance
      • Veterinary Insurance
    • Cover for Your EmployeesImage of right arrow
      • Small Business Retirement Plans
      • Employer-Sponsored Retirement
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
  • Carriers
  • Payment / Claims
  • Leave Us a Review
    • Knoxville, TN
    • Dayton, TN
    • Madisonville, TN
    • Kingston, TN
  • Contact
Home > Blog > How Many Years Should You Maintain Life Insurance
TUESDAY, APRIL 19, 2022

How Many Years Should You Maintain Life Insurance

Life insurance can be a powerful financial tool to have in your pocket. Most people do not want to think about the need to use it. Yet, there is a real risk present. And, with a policy, you can reduce the impact of that risk. Your policy should reflect your needs and those of your family. A comprehensive, well-designed plan gives you peace of mind for as long as you need it. Here are a few things to consider. 

Term Insurance Length – How Long Is Enough? life insurance paperwork on a laptop
It is impossible to offer a simple answer here. Everyone’s situation is different. However, in every case, the goal is the same. You should have life insurance in place as long as someone is relying on you to support their needs. Your term policy can cover the goals you have. This may include paying off the mortgage. It could mean covering your child’s education. Here are a few examples to think about before you buy a policy. 

Covering the Mortgage 
Some people use life insurance policies to help cover the cost of their mortgage balance. Let’s say you buy a $200,000 house and have a 30-year loan. Having a policy worth at least that much for 30 years eliminates the risk. Should you die with the mortgage in place, you can help your loved ones cover the cost. 

The Dependents You Have 
Most young families purchasing life insurance should focus here. As long as you have children or others dependent on you, you may want to have term life insurance in place. This way, if you are not there to support them, the policy can offer some financial support to meet their needs. 

Going Beyond the Basics 
Life insurance can do much more for you. You can use it to help you to achieve a variety of financial goals.  

Some people maintain policies their whole lives. This can help them to leave behind money for a loved one. It may help them cover a specific goal after death, too, such as providing financial support to your company or funding college tuition for a family friend. 

More so, the longer you purchase a term policy for, the longer the actual features and rates remain in effect. Since people are living longer and have more goals, a long-term policy can be an excellent way to protect your loved ones and your goals. 

Posted 4:31 PM

Tags: life insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • insurance(6)
  • auto insurance(5)
  • renters insurance(5)
  • bop(4)
  • rv insurance(4)
  • coverage(4)
  • life(3)
  • general liability insurance(3)
  • business(3)
  • premiums(3)
  • farm insurance(3)
  • home insurance(3)
  • costs(3)
  • classic car insurance(3)
  • trucking insurance(3)
  • life insurance(2)
  • commercial(2)
  • policy(2)
  • powersports insurance(2)
  • liability(1)
  • workers compensation(1)
  • general(1)
  • recreational insurance(1)
  • workplace safety(1)
  • owners(1)
  • workers compensation insurance(1)
  • business owners policy(1)
  • boat insurance(1)
  • business insurance(1)

View Mobile Version

Contact Us Today!
(865) 966-2111

Social

Resources

  • Get a Quote
  • Payment / Claims
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us
  • Leave a Review

Contact Us

11020 Kingston Pike, Ste 320
Knoxville, TN 37934

Phone: (865) 966-2111 | info@mikedyerinsuranceagency.com

1158 Market Street
Dayton, TN 37321

Phone: (423) 775-3011

144 Warren Street
Madisonville, TN 37354

Phone: (423) 442-2111

508 N Kenutcky Street
Kingston, TN 37763

Phone: (865) 376-4507

© Copyright. All rights reserved. | Powered by Insurance Website Builder