Term Life Insurance

Term Life Insurance

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Term Life Insurance

Just as its name implies, Term Life Insurance covers you for a specific period of time, or term, that you choose. Since it offers a death benefit but no cash value, Term Life Insurance is an inexpensive way to protect your beneficiaries for a specified period of time. Term Life Insurance is best-suited for various individuals and needs. It is ideal for:

  • People who have a temporary need for life insurance protection
  • Individuals who need a large amount of insurance protection but have limited cash
  • Those with specific business needs, such as additional coverage for a key employee

At the option of the policyholder and without evidence of insurability, term life insurance can be renewed at the end of the term for a limited number of successive terms. It can also be converted or exchanged for a permanent insurance policy, without evidence of insurability down the road. Once the term expires, coverage ceases and the policy has no further value. It’s important to note that rates generally increase along with the insured’s age.   BottomBanner