Term Life
Temporary Insurance
Protection when you need it most with term life insurance
Term life insurance ensures that you can provide your family with necessary financial security during critical moments, without breaking the bank. Typically 10-30 years, at a more affordable rate compared to a permanent policy. Offer your family the peace of mind knowing that your end of life expenses and a comfortable future are taken care of.
What Can Term Life
Do For You?
Low Cost Premiums
Term life insurance offers an effective way to secure coverage at a fraction of the cost of a permanent policy. (Plans start as low as $20 per month)
Term-to-Perm
Seamlessly convert a term life policy to permanent coverage as your needs change, ensuring you have lifelong protection.
Flexible Coverage
With policies ranging from 10, 15, and 30 years, you can have peace of mind that your family will be covered when they need it most.
FAQ
Common questions about
term life
? Can I renew my term life insurance?
Yes, many term life insurance policies include a renewal option, allowing you to extend your coverage beyond the initial term. When you renew, your premiums will likely increase based on your age and possibly your health at the time of renewal. The renewal terms are usually for shorter periods, such as one year, and this can continue as long as the policy allows, up to a certain age.
? Can I convert my policy to permanent life insurance?
Yes, most term life insurance policies come with a conversion option, which allows you to convert your term policy to a whole life or another type of permanent life insurance without undergoing a new medical exam. This option is typically available within a certain period during the term or before you reach a specified age. Converting to a permanent policy can provide lifelong coverage and build cash value over time.
? Can I change my beneficiary?
Yes, you can change the beneficiary of your term life insurance policy at any time. To do so, you'll need to contact your insurance provider and complete the necessary forms to update your beneficiary designation. This flexibility allows you to adjust your policy as your life circumstances change, such as marriage, divorce, or the birth of a child.
? What happens if I never use my policy?
If you do not pass away during the coverage period, your term life insurance policy will expire, and no death benefit will be paid out. The policy does not accumulate any cash value, so there is no residual value left at the end of the term. However, you may have the option to renew the policy or convert it to a permanent policy before it expires.
? Do term policies have a cash value?
No, term life insurance does not accumulate cash value, which means you cannot cash it out like you might with a whole life or universal life policy. It is designed solely to provide a death benefit to your beneficiaries if you pass away during the term.
? How is my insurance quote calculated?
The premium for term life insurance is based on several factors, including your age, health, lifestyle, occupation, and the length of the term. Younger, healthier individuals typically pay lower premiums. The amount of coverage you choose also impacts the cost—higher coverage amounts usually mean higher premiums.
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Whether you’re just starting out on your own or thinking about protecting your family, we’ll help you find a balance between financial protection and financial growth.
