Flexible, temporary protection with options for your future
What is term life insurance?
Term life insurance provides temporary protection for temporary needs. It also has some flexibility, so you can adjust your insurance as your needs change.
Term life insurance offers protection for your loved ones for a specified period of time—usually from one to 20 years. If you stop paying premiums, the insurance stops. Term policies pay benefits if you die during the period covered by the policy; but they do not build cash value. If you want life insurance for a limited time—long enough to meet your anticipated responsibilities to those who depend on you—term life insurance may be right for you. A breadwinner might, for example, buy a term policy that matches the length of a home’s mortgage. Premiums for term insurance are often higher as you get older.
Term life insurance snapshot:
* Easy to understand
* Affordable way to get maximum coverage
* Increases in cost after the specified period
* Builds no cash value
Who is it for?
Term life insurance is a popular choice for:
* individuals focused on affordability and flexibility,
* small business owners facing debts or significant start-up costs,
* business owners with complex needs like key person protection or buy/sell agreements, and
* people with mortgages or other temporary debt.