TERM LIFE INSURANCE

Protect your loved ones

In the untimely event of your passing, the grief of loss will be tremendous for your family. In situations where there is no life insurance, grief is compounded as surviving family members need to make drastic decisions pertaining to financial matters. Life insurance will help eliminate this financial aspect and allow your family to grieve without added stress. It's the peace of mind of knowing your loved ones have financial protection should the need arise.

It's somewhat of a grim topic. After all, who wants to think about death? Nevertheless, it is a very important discussion to have. As an independent agency and brokerage, we're able to shop for the best pricing among the strongest financially rated companies.

What is term life insurance?

Term life insurance is a type of life insurance policy that provides financial protection for a specific period of time, or "term", that typically ranges from 10 to 30 years. Term life insurance offers a cost-effective way to provide financial security for your loved ones.

What are key features?

Provides a death benefit to beneficiaries if the policyholder dies during the specified term
More affordable than permanent life insurance
Premiums remain level (unchanged) during the selected term
No cash value accumulation
Expires at the end of the term if not renewed

How does it work?

You choose a coverage amount (e.g., $250,000, $500,000, or more)
Select a term length that matches your financial obligations
Pay regular monthly or annual premiums
If you die during the term, your beneficiaries receive the full death benefit
If you outlive the term, the coverage ends (unless renewed)

Who is it ideal for?

Young families
People with mortgages or dependent children
Those seeking affordable, temporary financial protection for 10-30 years
Individuals wanting pure insurance coverage without investment components

What factors should be considered?

Coverage amount: Determine how much life insurance you need based on your financial obligations and goals. Common methods include:

Multiplying your annual income by 10-15
Using the DIME formula (Debt, Income, Mortgage, Education)
Calculating your Human Life Value based on future earnings potential

Term length: Choose a policy duration that aligns with your specific needs, typically ranging from 10 to 30 years.

Age and health: Younger and healthier individuals generally receive lower premiums.

Lifestyle factors: Tobacco use and high-risk occupations or hobbies may affect your rates.

Family medical history: Your family's health background can influence your premium costs.

Financial situation: Consider your current assets, debts, and future financial obligations.

Use the Life Insurance Needs Calculator to help you determine coverage amounts.

TERM LIFE INSURANCE

Protect your loved ones

Request your quote today