Most Affordable Type of Insurance That Covers You for A Defined Time Frame That Can Come with Living Benefits & Return of Premiums Built Into Policy.
Term life insurance, provides guaranteed death benefits for a set period of time, usually 10, 20, or 30 years. Once the term runs out, you can choose to renew the policy, convert it to a permanent insurance policy, or terminate it. It’s typically the most affordable type of insurance depending on a person’s age, being cheaper the younger a person is, becoming more expensive as a person ages, but it also means that beneficiaries only get the cash benefit if the insured person dies or suffers a health crisis within the specified term.
Many people opt for this type of policy as it typically allows them to get a large coverage amount for an affordable price depending on age, helping to cover liabilities that are typically highest when a person or family is young, decreasing as they age. Many term policies now come with key features such as Living Benefit riders that ensure that the coverage pays the insured while they are alive during the term if they were to suffer from a Critical, Chronic Illness, Terminal Illness, as well as Return of Premium riders, that will return an insured premiums paid if they don’t utilize the coverage.
Key policy features of Term Life Insurance include:
Key policy features of Term Life Insurance include:
- Simplified Issue, Non-Medical and No Physical Exam Required To Qualify
- Affordable, Large Benefit Amounts, Convertible Coverage.
- Living Benefit Riders Available Including Disability, Critical, Chronic and Terminal Illness Riders That Provide Funds Directly To You If You Suffer From Certain Health Crises Such As Heart Attack, Stroke, Cancer, Etc.
- Return Of Premiums: Returns up to 100% Of Your Premiums If Benefits Aren’t Utilized At The End of The Term
- Level Premiums & Guaranteed Death Benefit Throughout The Term
- Tax Free Death Benefit For Family