Term Life

TERM INSURANCE

Term life insurance is a type of life insurance policy that provides coverage for a specific period of time, typically ranging from one to thirty years. It is often the most affordable type of life insurance, making it a popular choice for individuals and families who want to protect their loved ones in case of an unexpected death. Here are some of the benefits of term life insurance:

• Affordable premiums: Because term life insurance provides coverage for a specific period of time, typically with no cash value accumulation, it is often the most affordable type of life insurance. This makes it a good option for individuals and families who want to get coverage without breaking the bank.

• Flexibility: Term life insurance policies can be tailored to meet specific coverage needs. Policyholders can choose the length of the term, the amount of coverage, and the riders or additional features that fit their specific needs and budget.

• Peace of mind: Term life insurance provides peace of mind to individuals and families by ensuring that their loved ones will be financially protected in case of an unexpected death. It can cover final expenses, outstanding debts, and even provide income replacement for a spouse or dependents.

• Convertibility: Many term life insurance policies are convertible to permanent life insurance, such as whole life or universal life insurance, which allows policyholders to extend coverage beyond the term period if they choose.

• Simple and straightforward: Unlike other types of life insurance policies, term life insurance is simple and straightforward. The premiums, coverage amount, and term length are all clearly defined in the policy, making it easy for policyholders to understand what they are paying for and what they can expect

Term insurance is pure life insurance coverage. Sometimes referred to as temporary insurance because it has a term or a set period of coverage and/or premium. There is no cash value accumulation. Simply put, term insurance is the most affordable type of life insurance for the lowest premium dollar. 

TYPES OF POLICY BASED ON PREMIUM