Term Life Insurance

Term life insurance provides coverage for a defined period of time, such as 10, 15, 20, 25 or 30 years. As a term life insurance policy holder you pay an annual premium amount for the defined period of time and the insurer, or the company you purchased your life insurance policy through, will pay your beneficiaries the pre-determined policy amount.

5 Things You Need to Know About Term Life Insurance

  1. Term life insurance rates have decreased in recent years. Rates for life insurance are partially based on the average life span of an individual and because we’re living longer, the payments have decreased as it’s become more likely that we may outlive the term of our policy.
  2. Longer term life insurance policies are more expensive than shorter term life insurance policies, because an individual is less likely to pass away during the duration of say a 10 year policy versus a 30 year policy.
  3. Term life insurance policies offer payment options. Most term insurance policies offer a level payment plan where the rates remain the same or the option to pay at a rate that increases annually.
  4. Term insurance policies can be converted to whole life insurance policies. Most term life insurance plans offer a conversion period which often doesn’t require a medical exam, and thus can work in your favor if a health condition arises.
  5. Term insurance is less expensive if purchased at a younger age; however, most individuals outlive their term coverage.

Request More Information

First and Last Name (required):

Phone:

E-Mail Address (required):

Requested Product (required):