Term Life Insurance (10- to 30-Year)
Protection for now and years from now
With MTA Benefits, you can select from 10-, 15-, 20- or 30-year term insurance. With this flexibility, you can choose a program that fits your family’s specific needs now – and in the future. It will assure you of funds to pay your mortgage, college funding, education loans or other debts. And it will give you peace of mind, knowing your family is taken care of if you’re not there to do it.
Rates for term Insurance have never been lower. Contact us today for your no obligation quote. Through MTA’s partnership with Vista Financial, MTA members have access to the most competitive rates for Guaranteed Level Premium Term Life Insurance.
Health issues are not necessarily a problem in getting life insurance. The professionals at Vista Financial have been successful in helping many MTA members with health concerns obtain the valuable coverage they need at a reasonable rate. They will help you shop the insurance markets and find the right policy for your needs.
For more information, click here or call Vista Financial directly at 888.646.1972.
How much life insurance do you need?
In a recent article in CNN Money Magazine, the question was posed as to how much insurance someone needs. There was no simple answer. Some financial planners say at least five to seven times your gross annual income. Others argue that you need twice as much in face value. That would mean a person making $50,000 a year should have anywhere from $250,000 to $750,000 worth of coverage or more.
Remember, the sole purpose of life insurance is to replace your income in case you die, so that your dependents can maintain their current lifestyle.
Factors to consider include whether the surviving partner will have childcare expenses if one partner is out of the picture. Do you have other assets on which to draw? Will your children be out of the nest soon? These, and many other factors, influence the decision on how much coverage you need. Buying a whole life policy doesn't necessarily mean you are fully insured. Because of the investment component of whole life, the policies are much more expensive than term. Don't simply buy less coverage, as it defeats the purpose of buying insurance in the first place: to cover dependents.
Advisors with the MTA Life Insurance Program can help you figure out how much coverage you need.