Term Life
What is it?
Term Life insurance, also known as temporary insurance, will pay a death benefit to the beneficiary on file in the event of your passing during a specific term period. You can purchase Term Life policies that last 10, 15, 20, or more, and most have the option to renew for an additional term at the end of that period.
Benefits of Term Life
- Cost effective - Rates for Term are typically more affordable than Whole Life
- Flexibility - There are several term periods available
- Policies with shorter terms can be used to help cover short-term debts
- Great choice for younger families looking for temporary coverage. Can be used to cover the years your family relies on you financially