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PhilipJameson
PhilipJameson

Posted on Originally published at lifeinsurednow.online

5 Silent Risks of Life Insurance Term Life

5 Silent Risks of Life Insurance Term Life

68% of new Canadian term-life buyers admit they're still uncertain about their coverage. These hidden gaps can cost more than a missed premium.

  1. Underestimation of needed coverage. Many policies are sized for a single year of income, not the full replacement period.
  2. Term length mismatch. A 20-year term may end before a mortgage or children's education are finished.
  3. Exclusion clauses. Certain illnesses or accidental deaths may be excluded, reducing the benefit.
  4. Premium escalation. Some policies increase premiums after a set number of years, creating a future cash-flow burden.
  5. Policy lapse risk. Missing a premium can terminate coverage entirely, leaving a gap in protection.

Review each factor carefully before finalizing a policy.

Read the full article on our blog

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