Term life insurance is designed specifically to cover the life of the insured person for a specific length of time or term. For example, the term could be 10 years, 15 years, 20 years, 30 years, etc. The longer the term period, the higher the cost of the insurance.

Term insurance is the least expensive type of life insurance because the insurance company will only pay out a death claim if the insured person dies during that term. If the insured lives past the term of the life insurance policy, the insurance company does not pay out a death benefit.

Term insurance is a great way to provide a larger death benefit to protect your loved ones at the most affordable prices. It is often used to leave funds to a spouse or loved one to replace the loss of an income that the insured provides while living. It is also used as “mortgage protection” to pay off a mortgage upon the death of the insured.

There are many important uses for term life insurance. Keep in mind that prices vary based on the age and health of the insured. The older someone is, the more the life insurance policy will cost. This is true of all forms of life insurance.

We work with the top life insurance companies in the country so we are able to run quotes to determine not only what companies offer the best prices but also what companies will offer you coverage based on your unique health.

Speak with one of our licensed professionals today!