Term life insurance is a simple form of insurance that can provide peace of mind for you and your family. Term life insurance is simply insurance cover that lasts for a restricted time. If you’re on a low budget and you buy term life insurance, you will get excellent temporary cover. Once it has run its course, you can buy it again, renew it or extend it, or you can leave it expired. Term life insurance will pay out if the you die, provided it’s within term.If you buy life insurance, it isn’t a way of building up a cash lump sum. There’s a level premium that’s set depending on factors such as age, health, location or other factors the insurance company deems important. The younger you are the lower the risk the insurance provider sees you as.Term life insurance is good for the insurance company. The number of claims is very low at around one in 100. This is beneficial to the insured as the premiums are kept low. If there happens to be a payout to dependents, it will usually be a very generous one.This all means that buying term life cover is great on a coverage per premium basis, as there is such a slim chance of the insurer having to pay out.With term life insurance, certain complications do arise. For instance, insurability is an important issue. You could buy a life policy covering just one year and be diagnosed with cancer within the term. However, you might not actually die until after the term life insurance has expired. This would make you unfortunately uninsured.However, there is a feature on some term life insurance policies called guaranteed reinsurability that gets around the issue. This will let you renew your insurance without needing to prove your insurability.Annual renewable term is another variant of term life insurance. You would pay for one year’s cover, but be given a guarantee that your policy can carry on each year for an agreed period of between 10 and 30 years. The premium is greater for a years cover, however there is a higher chance of the policy paying out.You must keep up with the payments on your life insurance policy once you have purchased it, though. Failure to do so could mean your dependents not being paid out if you die. For that reason, it’s best to automate your term life insurance payments by paying by direct debit. You could also do worse than have some independent expert assess your small print, too, as failure to disclose even the smallest health problems could render your term life insurance policy invalid.Copyright (c) 2009 Mark Walpole

A fixed rate home equity line of credit can help you out of a jam if you are strapped for cash. What would have to do if someone in your family were to be injured or to even lose a job? Do you have enough finances in the bank to cover your expenses including your mortgage payments for several months? If not, this is where a refinance home equity line of credit comes into play.

You can draw on the equity through a refinancing second mortgageloan to make all of your debt payments plus pay for your living expenses until the crisis is over. This is a much better alternative than using credit cards to live off of. Simply because the payments on a HELOC loan are typically going to be smaller. Plus the interest is typically going to be tax deductible.

It’s fairly common knowledge that banks are going to be more than willing to loan you money with decent home equity line of credit rates when you don’t really need it. However, if you hit a rough patch in your financial life and need cash desperately, it can sometimes be difficult to get the help that you need. A HELOC loan can help you out of this situation.

In other words it is going to be much easier for you to get a fixed rate home equity line of credit when you don’t really need one rather than to wait and try and get one when you really need it. This is the really great thing about a refinance home equity line of credit and makes this a fairly desirable mortgage loan. Is that there are no payments due unless you use it. This second mortgage for bad credit can also usually be free for those with good credit.