More than 68% of freelancers choose to leave 9 to 5 jobs for the flexibility of more time with their families and to be fully in control of their financial future. One of the most important ways that a freelancer can make their future more secure is to have a term life insurance policy that would cover their family’s needs if they were to die unexpectedly.
What is term life insurance?
Term life insurance is the most affordable/simplest plan that one can purchase. In simple terms, you can choose the amount of coverage and term you want. The most common terms are 10,15, 20, 25, and 30 years.
The cost of your premiums will stay the same over the life of your policy’s term. Your beneficiaries receive a death benefit if you pass away during your term.
Freelancer’s income may fluctuate from year to year. Figuring out how much life insurance to purchase may be a bit confusing. Usually the rule of thumb is to multiply your highest income month by twelve.
The type of term life insurance you want depends on your needs. Cosmo Insurance has licensed life insurance brokers who know all the ins and outs of every life insurance plan we offer.
As a freelancer, it is important you get yourself covered. Call Cosmo today for a quote on a term life insurance plan.
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