Term Life Insurance is life insurance with the premium (payment amount) being guaranteed for a set number of years, or a term. This term ranges from 10 to 30 years. Term life insurance policies cost less than whole life insurance policies, which allows customers to maximize their coverage benefits.
Guaranteed level term life insurance - guarantees that the amount of coverage remains level (or the same) for the length of the term.
Examples of What Term Life Insurance May Be Used For
Guaranteed level term life insurance - guarantees that the amount of coverage remains level (or the same) for the length of the term.
Examples of What Term Life Insurance May Be Used For
- Maintain your family's standard of living with income replacement
- Pay off debts such as a mortgage, credit cards, etc.
- Pay for children's college education
- Key person or buy/sell agreements for a business
- Divorce settlement
- Pay for final expenses