It’s crucial to understand the Truth About Term Policies…….. a key statistic: a staggering 99% of term policies ultimately do not result in claim payouts. This is primarily attributed to policy lapses by individuals or the natural expiration of the policy term itself. You can verify this statistic from sources such as Penn State University and Consumer Reports.
This fact greatly contributes to the profitability of term policies for insurance companies. Consequently, insurance companies offer higher commissions to agents, motivating them to promote and sell more term policies.
When you’re contemplating a life insurance policy, we invite you to the Kaye Agency. Our aim is to provide comprehensive education about the various policy options, without any pressure to make a purchase.
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