Flexible and Affordable
Term life insurance is a flexible, affordable option compared to other costly permanent life insurance policies because it provides a level premium and a level-death protection for certain length of time.
Term Life Insurance
There are many reasons why you should invest in term life insurance. It covers short term financial needs, is very affordable, has a low initial cost, is great for temporary coverage needs, has no waiting period, no medical exam, and it covers everyday bills, medical expenses and other debts. The premiums won’t suddenly increase after the period ends, and it is beneficial to young adults and families that need protection against loss of income.
Annual Renewable Term is purchased for a period of one year, with the death benefit to be paid only if the insured were to die during that one-year term, along with the option to renew after the term period.
Level Term Life guarantees a fixed premium for a given period of time, usually in terms of 10, 15, 20, or 30 years. Your premium is based on your age and coverage options, with longer terms being more expensive.