Term Life Insurance
Term Life insurance is the simplest form of life insurance. It provides affordable protection for a specific period of time at a scheduled premium level. Premiums may increase at the end of the term. You choose a covered level, whether it be ten, fifteen, or twenty years. You then name a beneficiary (person you want to leave the money to), and they receive the benefits if you pass away. At the end of the term, you can renew the coverage (often at a higher premium) without having to provide evidence of good health. You can also covert it to a permanent life insurance policy which builds cash value and possibly earn dividends.
Term Life Insurance features:
- Compatible for a specific period of time
- Alternate option for when life insurance is essential and dollars are scarce
- Protection for your family (insurance benefits can help pay a mortgage or fund a child’s education)
- Protection for your business (benefits can ensure business continuation by helping cover business expenses)