The phrase term life insurance company might imply, to some people, that there are life insurance companies that sell this type of product and no other.
Such a conclusion is very far from the truth. There may be agents that sell solely term insurance but not life insurance companies.
What these companies may do is to specialize in selling term but if a client desires other types of life insurance or other types of insurance in general they may be available from a so called term life insurance company.
Some companies sell life insurance, disability insurance and annuities only. Others cover just about every conceivable type of insurance.
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Term Life Insurance Company
No life insurance company sells only term life policies so there is really no such thing as a term insurance company. They all sell term insurance though.
The whole idea of attempting to focus on a specific type of insurance was born out of what turned out to be a very powerful movement with what appeared to be a goal of getting people more bang for their dollar.
As term insurance is considerably cheaper than permanent insurance people are therefore able to buy larger amounts of this type of life insurance…
The goal in fact may have been one that brought the owners of the companies more business. Regardless of the motives of this movement the public benefited and that is all that really matters.
A company that would call itself a term life company still shows growth…and rapid growth at that.
It is to the benefit of the reader to note that the companies that sell all types of life insurance policies are growing at an even faster rate.
It would seem to me that one of the reasons for this is that there are many people who find other types of life insurance like whole life insurance, universal life insurance, variable universal life insurance and variable life insurance very useful.
A truly focused term insurance company would, therefore, not make any sense.
Disability insurance and long term care insurance are becoming very popular with the general public and should not be ignored. Life insurance companies are even getting into serious investment plans apart from annuities which they have always been involved in…
They have bought investment companies with the sole purpose of providing good solid money growth for their clients such as mutual funds. A term life insurance company…selling solely term insurance?
I don’t think so. A company that categorize themselves as a term life insurance company may specialize in selling term but they do sell all types of life insurance.
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