Protecting Your Health, Wealth, and Lifestyle
Term Life Insurance
A Temporary Solution for a Temporary Need
Term life insurance, also known as temporary life insurance, is a type of life insurance that guarantees a stated death benefit if the covered person dies during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate.
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Term life insurance guarantees a stated death benefit to the insured's beneficiaries if the insured person dies during a specified term.
These policies have no value other than the guaranteed death benefit and feature no savings component as found in a whole life insurance product.
Term life premiums are based on a person’s age, health, and life expectancy.
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