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If the option of purchasing term life insurance has been on your mind, you might be wondering if it’s worth it, given your situation. While it provides needed risk transference for many families, your situation may or may not call for it. Allstate Insurance Companies agent Dewey Beckner has supplied quality insurance products to his High Point, NC, clientele for over 20 years. Below he’s outlined who term life insurance is right for. 

Do You Have Dependents?

term life insuranceIf you have children, grandchildren, a spouse, or any other dependent relying on your source of income for their livelihood, you likely need some form of life insurance. If you pass away, your dependents could lose their current quality of life.

Expenses such as a child’s college tuition, family medical expenses, and mortgage payments can be accounted for, allowing your loved ones to continue comfortably. A qualified insurance agent can look at the overall picture to determine whether or not you need a term life policy.

Do You Have Debts to Pay Off?

Do you have large sums to pay off, such as a mortgage, or other consumer debts like student loans? While you might think that your family won’t be responsible for these expenses, debt collection agencies are usually allowed to collect unpaid loans from surviving family members. A term life insurance policy can give your family the cushion they need in the event of your untimely passing.

If you’re considering term life insurance options, it’s best to consult a qualified agent so you can get the best insurance quotes on the market. Dewey Beckner with Allstate Insurance Companies is on hand to provide you with personalized service. He will work to find you the top products at the affordable rates. Call him today at (336) 884-5636 or visit his Facebook page for more information. 

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