Term life insurance is simple to buy and easy to afford, making it the ideal way for young families to get the financial security they need.
Term Life insurance is structured to be a temporary life insurance.
Coverage is guaranteed at a fixed premium for a set period of time. If the life insured dies during the term, a lump-sum tax-free death benefit will be paid to your named beneficiary. Term life insurance is primarily used as low-cost way of providing maximum coverage replacing lost income to loved ones and paying off debt, such as a mortgage. Protection is provided for a limited number of years and expires without value if the insured lives beyond the policy period.
- Flexible terms ranging from 10 to 40 years, including pick-a-term policies designed to complement specific, financial risk timelines such as a mortgage amortization term.
- Guaranteed to automatically renew at the end of the term; continuing at a higher premium, with no additional underwriting.
- Convertible to a permanent life insurance policy at a certain attained age, with no additional underwriting.