Term Life Insurance

Term life insurance coverage is the most affordable form of life insurance protection available. Term life insurance provides the maximum financial security for the minimum cost.

You get complete protection and it allows you to invest the rest you would have spent elsewhere on whole life insurance.

The premium rate you pay for term life insurance is guaranteed to remain the same low amount for the period of your term policy. Many life insurance companies offer term life insurance for periods of 5, 10, 15, 20 or even 30 years.

Its important for you to understand the terms of your life insurance policy before buying coverage. Term life insurance policies build no cash value within the policy. They pay a death benefit only if you die during the term of the policy coverage. If death of the insured occurs during the policy term, the beneficiary collects the face amount (death benefit) of the life insurance policy income-tax free.

Premium rates for term life insurance policy renewals normally increase at the end of the guaranteed rate term.

Advantages of Term Life Insurance


• Premiums are lower than for permanent life insurance.
  
• You can afford higher amounts of coverage when needed.
  
• Good for covering specific needs that end in time, such as college education costs or home mortgage.
  
• Term life insurance is the most cost effective way to get the maximum protection for the lowest cost for up to 30 years.