Affordable Life Insurance Protection for Your Family
Term life insurance is the most affordable type of life insurance plan. With term life you are only paying for the life insurance protection. There is no cash value that builds up within the policy.
Term life provides protection for your family for a specific number of years (between 5 and 30 years usually). If you die during the term of the policy, your beneficiary will receive the death benefit of your life insurance policy.
Example: If you own a 20 year $200,000 term policy and you die after 5 years or 19 years into the policy, your beneficiary would receive the $200,000 death benefit.
If you die during the term of the insurance policy your beneficiary receives the death benefit, also known as the face amount, of your policy. If you are still alive at the end of your policy term, your insurance protection expires. You may have the option of renewing your term life policy. However, the premiums will generally be higher at that time.
There is no cash value that builds within the term life insurance policy. Some term life policies offer a return of premium. These policies usually charge much higher premiums than level term life insurance.
Top Pick – JRC Insurance Group
JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 40+ insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote.
Highly Recommended – Globe Life Insurance
Get FREE Information On How $1* Can Buy Up To $100,000 Globe Life Insurance For Adults Or Children