Term Life Insurance

Term life insurance is the most basic, straight forward and affordable type of life insurance.

Basic means that the two biggest decisions you will have to make are how much coverage you would like and for how long. Insurance companies refer to this length as a term, hence the name. Coverage depends on your life situation and your reasons for buying life insurance.

Straight forward refers to the details of your policy. Basically, if an insured individual were to die while covered by a term life insurance policy their beneficiaries would receive a death benefit. Unlike other types of policies that have death benefits that can decrease over time, term life insurance is very easy to understand.

Affordable because there is no return on your money. Unlike whole life insurance policies which have a “built-in savings” component, term life insurance owners receive none of the money they pay into their premiums back. But, comparatively to the cost of whole life insurance, term life offers substantially more coverage for the price.