Term Life Insurance

Term life insurance is the most straightforward and affordable form of life insurance. It provides a death benefit if you pass away during a specified term — typically 10, 15, 20, or 30 years.

Key Features

• Pure protection — All premium goes toward your death benefit coverage
• Low cost — A healthy 35-year-old can often get $500,000 of 20-year coverage for under $25/month
• Flexible term lengths — 10, 15, 20, 25, 30 years
• Level premiums — Your premium stays the same for the entire term
• No cash value — If the term expires, no money is returned

Who Term Life is Best For

• Young families protecting income during the child-rearing years
• Homeowners wanting to cover their mortgage
• Business owners protecting key person risk
• Anyone who needs maximum coverage at minimum cost

What Happens at the End of the Term?

Most term policies expire at the end of the term. Some allow you to convert to permanent coverage without a new medical exam (conversion privilege). Some can be renewed year-to-year at increasing premium rates.