Term Life
A term life insurance policy, designed for a specified period of time, can provide income continuation, help pay off a home mortgage, help provide for a child’s education fund, help start an emergency fund, or help pay for personal debts.
A new way to think about life insurance.
A good term life insurance policy can protect you and your family for the unexpected. Life insurance is about providing for your loved ones who must continue without you and your earning capability. When all of its benefits are provided to a growing family, a customized term life insurance plan may help your family address four major needs:
Income continuation | Mortgage Protection | Education Fund for children | Settlement Fund
Term Life Insurance Policy benefits:
Get up to $5 million in coverage
Provides life insurance benefits for a specific period of time
No decrease in benefits or increase in premiums for the term period
Can also include living benefits in the event of an unexpected critical, chronic or terminal illness.
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Term life insurance is one of the most popular types of insurance because it provides protection – and peace of mind – for a specified period of time, also known as a “term.” The rates for a term life insurance policy can be more affordable than many other types of insurance. Most Term Life Insurance Plans are available for 10, 15, 20 and 30 year terms.
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Absolutely not. The amount you agree to pay when your coverage starts is the same amount that you’ll pay throughout the duration of your term life insurance policy.
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At the end of the term, there are two options: You can either choose to end the policy agreement or, if you decide your family is still in need of coverage, you can renew your policy agreement at the premium rate for your age at that time – with no physical exam. This is a large benefit for those whose health may have deteriorated during the policy term.
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People regularly choose term life insurance because it is often one of the most affordable ways to protect a family from the unexpected death of a parent (the “insured”). Family left behind as “beneficiaries” would have money available to pay bills, final expenses or to plan for future expenses, such as a child’s education.
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It depends on the carrier and the amount of insurance being requested. No medical exam is necessary for a term life insurance policy, in most cases. Coverage is dependent on answers to health questions. For example, a physical may be necessary for cause and for term life insurance applicants age 51 and older who apply for more than $100,000 of coverage.
Term Life Insurance can help protect your home, your family and your family’s lifestyle.
