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Terms of a Term Life
When taking out a term life policy, there are a few issues that need to be considered before you decide on the length of the term.
- Take stock of your outstanding debts and loans, and work out how much money your dependents will need to pay them off in the event of your death.
- Consider the number of years your children or dependents will take to become financially self-sufficient.
- Look at your financial needs and those of your dependents.
- And last, but certainly not the least, decide on your policy only after you have checked out various options.
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