Term Life Insurance

Term Life Insurance

Term Life Insurance is low cost protection for the short term.

Some suggested uses are: to replace income for families in the event of premature death….to cover loan and mortgage balances. More on Mortgage Insurance …to provide cash for a child’s education … a business may use it to fund  a buy-sell agreement or to cover the financial loss of a key employee.

Term Life Insurance is insurance for a certain time period, usually 10, 20 or 30 years, or to a certain age like 65, 75 or 100.

Whenever the term is finished the rates increase at the end of the term, if the insurance is renewable.  Many term plans can be converted to a permanent plan up to an age specified in the policy.

Term life is recommended for temporary needs that will reduce or disappear in the future, such as providing for children until they grow up, or pay a mortgage.

 Term Life Combo Insurance Plan.We specialize in combining  terms to follow your family needs. We combine ten year term, twenty year and thirty year term for approximately the same price as twenty year term.

Our term life combo is an ideal solution for young families

NOTE: Term to age 100 is usually cheaper than whole life, but may not have any cash value.  As you age and your health situation changes you might need to use the money planned for insurance premiums for other expenses. If there’s no cash value and you stop paying, the policy will lapse in 30 days. If you had chosen whole life there would be several options available for you and you wouldn’t loose your policy after all those years.

 NOTE: A consideration is that once the term is finished, the renewal rate will be higher.  If you will need insurance past the end of the term, it might be wise to consider whole life.  Any questions email [email protected]