What is term life insurance?
Term life insurance is the most inexpensive way to provide your family with death benefit protection. With term insurance, the premiums you pay provide you with coverage for a specified period of time. There is no savings component, no special features, no cash value accumulation. Term Life Insuance is the simplest form of life insurance you can buy.
Why do you need life insurance?
With the death benefit from you policy, you can protect your family from financial devastation caused by your death. Your family could be able to:
- Pay the mortgage
- Pay off debst
- Pay for funeral expenses
- Pay for your childrens education
What do I get for my money?
Insurance companies offer 10, 15, 20 and 30 year level term life insurance policies. With most term policies you can be sure that :
- Your premium amount will stay the same for a set period of years.
- Your death benefit is guaranteed.
- Some policies allow you to convert to a permanent policy.
- You can add optional riders to your policy to enhance your coverage.
- You can reapply for new coverage at the end of your policy’s term.
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