Term Insurance
Description
Understanding Term Insurance
What is Term Insurance?
Term insurance, also known as term life insurance, is a type of life insurance that guarantees payment of a stated death benefit if the covered person passes away within a specified term.
Policyholder Options at Term Expiry
When the term expires, policyholders have several options:
- Renewal: Extend the policy for another term.
- Conversion: Switch from term to permanent insurance.
- Termination: End the policy.
How Term Insurance Works
Think of permanent insurance as owning your policy, while term insurance is more like leasing it. The main purpose of term insurance is to cover financial responsibilities for a defined period. This includes:
- Covering your mortgage, loans, and credit cards.
- Providing funds for your children’s education.
- Offering income replacement to help your spouse manage living expenses (utilities, taxes, home/auto insurance, kids’ activities) without the immediate pressure to return to work.
Affordable Peace of Mind
We offer a range of cost-effective choices and strategies to keep expenses low while ensuring your family won't struggle during difficult times. We'd love to discuss these options with you!
Get Started Today
Click the ‘Inquire’ button to contact us with your needs, and we’ll connect with you to answer your term insurance questions and help you find the best solution.
Ensure your family's financial security with term insurance. Inquire now to learn more!
Details
| Date Added | 2020-08-06 |
| Product Id | 10502710 |
