Retirement & Life Insurance
Term life insurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.
Term Life Basics
Term Life Insurance provides a cost-effective solution for your temporary life insurance needs and gives you the flexibility to change your policy should your temporary needs turn into permanent goals.
Term Life Insurance is right for you if you
·An affordable way to get maximum coverage
·To cover specific financial responsibilities like a mortgage or college expenses
·To supplement your Permanent Life Insurance during periods when coverage needs are higher, such as family-growing, mortgage-paying years
Some things to consider about Term Life
· There is no cash value accumulation
· Continuing your coverage after the initial level premium-paying term expires can be very expensive