Term Life Insurance

Generally, Term Life Insurance is more affordable than Permanent Life Insurance. It provides coverage for a specific term without the additional investment component found in Whole Life and/or Universal Life policies. This makes it a cost-effective choice for those seeking basic life insurance coverage.

If you outlive your policy, the coverage ends and there is no payout. Term Life Insurance doesn't accumulate cash value like permanent life insurance. Some policies offer a return of premium option or the ability to convert to a permanent life insurance policy.

Yes, most Term Life Insurance policies allow renewal at the end of the term. However, premiums typically increase upon renewal due to age and possible changes in health status.

Select a term length that covers your major financial responsibilities. Common terms are 10, 20, or 30 years. Consider factors like age, financial obligations, and when dependents will be financially independent. A professional advisor can help tailor the term to your specific needs.

Term Life Insurance is a policy that provides coverage for a specific period or "term". If the policyholder passes away during this term, beneficiaries receive a death benefit. It's a straightforward, often affordable way to provide financial security for your loved ones.