Term Life
Insurance

Term Life Insurance

A term insurance policy is a type of life insurance policy that provides coverage for a certain period of time, typically 10, 15, 20, or 30 years. If the insured person dies during the term and the policy is active, a death benefit will be paid to the beneficiaries. Term insurance is initially much less expensive compared to permanent life insurance, such as whole life and universal life. It’s designed to provide financial protection for your loved ones if you pass away unexpectedly during the term. The policy offers level premiums for the duration of the term, and many policies also offer the option to convert from term to permanent insurance. If you’re considering purchasing term life insurance, it’s generally more affordable when you’re younger and healthier.