Our Services
You must be at least 40 years old

Term life insurance is a form of life insurance that ensures the payment of a stated death benefit if the policyholder dies within a certain period of time. When the term expires, one can either renew the policy, convert it to permanent coverage, or allow it to lapse.

Premiums for term life insurance are calculated based on the policy value as well as the policyholder’s age, gender, and health. In some cases, a medical exam may be required. The insurer may also ask about your driving records, medical reports, smoking status, career, hobbies, family history, etc. 

If the covered person dies during the policy's term, the insurer will pay your beneficiaries the policy’s face value. Beneficiaries may use this non-taxable cash benefit to pay for medical and funeral expenses, consumer debt, mortgage debt, etc.

Types of Term Life Insurance Policies

Level Term Policy offers coverage for a set period of time, usually between 10 and 30 years, and both death benefit and premium are set. 

Level-Premium Insurance: With this type of coverage, premiums are fixed while the amount of coverage provided increases. So, the coverage can be beneficial over a long period of time.

Annual renewable term (ART) Policy has no set term and can be renewed yearly without any insurability proof. Rates vary, and as the insured person ages, the premiums rise. 

Return of premium has a level premium payment term of 20 or 30 years, depending on your preference. And if you live longer than the level premium payment period, you'll receive a refund of all policy premiums paid after the term.

Decreasing term policies: The death benefit on these plans decreases each year, following a specified schedule. The policyholder pays a fixed, level premium for the duration of the policy.

Before choosing any of the aforementioned types of term life insurance, the policyholders should review their debts, financial needs, dependents’ needs, and possible changes. Of course, the policy's cost will vary depending on age and other risk factors, but it is important not to think that insurance is too expensive to afford.