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Your life insurance needs change depending on what stage you’re at in life. Major events like getting married, having a baby, buying a new home, starting your own business or nearing retirement can also increase your need for life protection.

We at Apple Insurance understand that each person’s life insurance coverage needs are unique. We offer different plans, so you may choose the one that best meets the individual needs of you and your family – no matter which stage of life you are in.

Term life insurance provides temporary protection for temporary needs. It also has some flexibility, so you can adjust your insurance as your needs change.

A term life insurance policy will provide you with guaranteed rates and coverage for a selected period of time, most commonly every 10 or 20 years (known as Term 10 or Term 20) although terms of 5, 25, 30 and 35 years are available on today’s market.

Term life insurance is a popular choice for:

* individuals focused on affordability and flexibility,
* small business owners facing debts or significant start-up costs,
* business owners with complex needs like key person protection or buy/sell agreements, and
* people with mortgages or other temporary debt.

Term Insurance is the most cost effective type of life insurance, and is often used to protect mortgages. Having a plan that is renewable and convertible is important as it will give you the option to change your coverage to a permanent Whole Life or Universal Life plan as your needs change.

Term life and whole life are the most common types of life insurance policies available. People often wonder what is best for their family. Each has its own benefits and negatives, depending on how they are used.

What is the difference between Term life insurance and whole life insurance? Whole life insurance is a continual policy that is paid throughout the life of the individual paying into the policy. These premium payments remain the same and are often quite a bit higher than a term life insurance policy.

Term life policies are perfect for someone undertaking a dangerous profession or must travel frequently. Also the premiums do not accrue interest as in a whole life insurance policy. Don’t know what type of insurance to buy? Talk to one of the experts at Apple Insurance today to discuss your individual needs.