Term Life Insurance

As the name shows, term insurance is designed to provide coverage for a specific number of years, or 'term'. The main advantage of purchasing term insurance is the low initial premiums. But keep in mind that most term policies have a set renewal period. At the end of this period, you'll need to renew the policy at new premium rates but without new medical. Since age is a major factor in pricing insurance, the cost of your insurance will most likely increase.

Term insurance can be used to cover a variety of insurance needs, such as a mortgage, personal or business loans or replacement of income after a death, to name just a few. Its real strength is in providing larger amounts of coverage at a lower cost. This can be especially important to a young family with small children where there is a need to provide financial security, at low cost, for the years when the children are financially dependent on their parents.

Term life insurance available in different forms:

• Term 10 (Renewable & Convertible)
• Term 20 (Renewable & Convertible)
• Term 30
• Term 65
• Term 100