Affordable Life Insurance Protection for Your Family
Term life insurance is temporary life insurance coverage that provides insurance protection for a specific period of time.
Temporary life policies usually last for a maximum duration of up to thirty years.
However, you may be able to choose a Policy Duration (Term) of 10, 15, 20, 25, or 30 years, depending on your age.
With temporary life insurance you are insured for a set number of years, and if you die during that time, while your coverage is "In Force", the death benefit is paid out to the beneficiary of your insurance policy.
But, if you outlive the duration of your term life plan, your life insurance expires, and there is no payout of any benefits from your policy.
Term (temporary) life insurance policies may offer the option to Renew your policy for an additional Term, usually up to 10 years, when your current term life plan ends.
If you choose to Renew your term policy, you will not have to take a physical exam to qualify for the coverage; however, your renewal rate will increase based on your age at the time you renew your policy.
Temporary (term) life insurance offers the most affordable coverage lasting for a period of 30 years or less.
Many people choose to buy temporary life policies to provide for the following:
Actually, a temporary life insurance policy may be a good option for anyone who has life insurance needs that will last for 30 years or less.
And, anyone who is on a budget and needs the maximum amount of life insurance at the lowest price.
Some term policies offer the option to Convert some or all of your term life insurance into permanent life insurance by a specified date stated in your term policy.
This offers you the flexibility to convert your coverage to lifetime protection in case your needs change in the future. Keep in mind, the premiums charged for permanent life insurance are much higher than premiums for term insurance.
Term Life Insurance Quotes
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