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A term life insurance policy provides death benefits if you pass away during a certain period of time, usually 10-30 years, and is typically the most affordable and straightforward of life insurance policies.
Level Term Plans
Coverage Length 10, 15, 20, 25, & 30 Years
Best for Ages 0 – 70
Death Benefit Amount $50,000 and up
Medical Exam Required
An affordable option that allows you to purchase large amounts of coverage at reasonably priced rates.
30-Year Return of Premium
Coverage Length 30 Years
Best for Ages 6 – 50
This option is ideal for those who think they will outlive their policy. This term policy provides coverage and gives your base premiums and policy fees back to you at the end of the 30-year term (excluding premium for riders, benefits, extra life premiums/rate ups and modal fees). Even canceling before the term expires may allow you to receive some cash value back.
Rapid Issue Term Life
Coverage Length 10 20, & 30 Years
Best for Ages 18 – 70
Death Benefit Amount Up to $25,000
No Medical Exam Required
Rapid issue term plan is a simplified option with an easy application process and does not require a medical exam. This policy does allow for a period of conversion to a permanent plan of insurance.
Term life is typically the best option if protection is needed for a specific period of time. It usually allows you to acquire the greatest death benefit for the lowest premium when the policy is originally issued. Also, life insurance proceeds do not go through probate estate (unless the estate is the beneficiary on the policy), so this allows the beneficiary to be paid without the complex estate administration.
Yes, typically a medical exam is required for term life policies; however, it depends on the age of the applicant, the type of policy being applied for and the amount of coverage needed. Your agent can help you decide what is best for your family.
You can select anyone who has an insurance interest as your beneficiary. This means anyone who would suffer a financial loss should you suffer loss of life.