Term life insurance is the simplest form of life insurance. It provides affordable protection for your loved ones for a specific period of time with a locked-in premium for the term. When the term expires, the premiums on the policy may increase.
Generally, you choose a coverage level and a term. Terms are usually 5, 10, 15, or 20 years–although policies up to 30 years are not uncommon. All policies must name a beneficiary that will receive the benefit if you die during the life insurance policy term.
In the event that you outlive the term of the policy, you can renew your coverage–or you can convert it to a permanent life insurance policy which can build cash value over time and may even earn dividends.Request a Quote