Term life insurance is one of the most popular choices of insurance plan in the US. Plans like these offer a host of advantages; life insurance not only saves you money but also protects your interests in the best possible way. Looking for the benefits it offers? Here are 7.
Reason #1: Insure Your Goals
Term life insurance can be specially curated towards the needs and preferences of you and your own family. All of us have individual goals that are uniquely ours. An insurance plan that suits you, for instance, may not suit others. You can protect your own goals with the help of strategically chosen term life insurance. It is designed to be customized this way.
Reason #2: Pay Off Your Mortgage Burden
Overloaded with the burden of a mortgage? You can choose term life insurance. These plans cover your mortgage needs as well. Going in for a term insurance plan, you can rest assured that your family will remain provided foe even if you’re no longer around to protect them. Some particular types of term life insurances even reduce the payout value according to the maturity of the policy.
Reason #3: Get Financial Assistance
You should try to avail term life insurance policies for each of your children. This will help you have the peace of mind that your heirs have financial security.
Reason #4: Get Comfortable
Insurance policies can even be used to make your life more comfortable. You can choose to renovate or refurbish your home, or fulfill any other desires. It is a good way to make your older home a bit more beautiful and comfortable.
Reason #5: Fund Higher Education
A number of parents today want to give them a proper higher education, preferably in a prestigious Ivy League university. But your financial status may indicate otherwise. The term life insurance can make sure that there is money to assist your children’s higher studies even when your financial condition is suffering.
Reason #6: Payments For Credit Cards And Other Debts
Your shares remain even when you die, and invariably exert pressure on your family members. As a responsible individual, you wouldn’t want your family to get harassed for the unpaid debts. Investing in a term life insurance can ensure that the debts are paid off in time without disturbing your family.
Reason #7: Provide Money When You Move
You can use your term life insurances to move to a better locality. These advantages have their qualitative and quantitative values. Always try and invest in term life insurance plans. Especially in the USA, these help you steer clear of unwanted consequences after your death.
There are companies that work on collecting and maintaining credit information of consumers. These are known as credit reporting agencies (CRAs). There are three such major CRAs in the country, namely Equifax, Experian, and TransUnion. Apart from these, there are other smaller-scale agencies too that specialize at the job. If you’re worried about “where to get my credit score?,” the larger CRAs are the most reliable bets.
These major CRAs obtain information from companies that you hold business and transactions with. People or companies that lend you money regularly report to these CRAs on your repaying status. There is also detailed information on the amount you are indebted and whether you have ever defaulted on your payments. Aside from the reports obtained from lenders, these companies also tally your general records based on certain other aspects. Some of these aspects are your public records from the local and state judiciary. These include your tax records and bankruptcy information. This information makes up an important chunk of your credit score and its report.
Equifax
Present in 24 countries, Equifax is an agency that offers consumers protection against identity theft and credit fraudulence. They also sell credit reports and credit monitoring assistance to businesses.
Experian
Experian started off in London and is now a trusted agency in 39 different countries. It provides you with a credit score, credit report, and even credit tracker on subscription. The agency uses FICO 8 system of credit score calculation. Experian was a part of Forbes’ “World’s Most Innovative Companies” in 2018.
TransUnion
Based across 30 countries with a database of over 1 billion consumers, TransUnion is another CRA giant. The agency, like the other ones, will provide you with your credit score and your credit reports. In case you decide to freeze your TransUnion credit report, it will also go the extra mile to notify Equifax and Experian, which frankly is a big help especially in case of identity theft and credit fraud.
So, the next time you are sat wondering “where to get my credit score?,” think of these three giants that provide you with an annual credit score and credit report for free once each year. However, if you are looking for more frequent updates, you can subscribe to their services and receive your monthly updates.
Did you know that you have more than a single credit score? Agencies calculate your credit score based on the data in your credit reports. If you are wondering, “where to get my credit score?,” there are three main credit reporting agencies. These can have different credit scores for you if your information on each of their credit reports is different. Also, these agencies charge a fee to reveal your credit score.
Recently, it has become easier to track and get hold of your credit score without paying any fees. You can get it from your credit card company, your loan provider, and even from a non-profit counselor. Here are a few tips you can use to check your score.