Term Life Insurance
Term Life Insurance is a life insurance policy that provides coverage for a limited period of time, or term. Once the length of term is chosen the premium is then fixed for that period of time. The term can be as short as one year but typically ranges from between 10 to 30 years depending on your age and insurance needs.
It must be noted when considering term life insurance that although its purpose is to provide a death benefit, this is only payable should you die during while the policy is active. At the end of the term the policy is typically renewable yearly at an increased premium. We help our clients by reviewing their insurance needs and coverage options well before the end of the term so that there are no surprises. Often a new policy is appropriate and occasionally converting the term policy to a permanent policy is called for.