Term insurance, as the name implies, is designed to insure you for a specific period of time. Term life insurance options are available for 10, 20 or 30 years. As long as you pay your premiums during this period, the insurance provider cannot cancel the policy, nor can the premiums be raised. In the event of your passing within this time frame, your beneficiaries will receive the death benefits. Term life insurance is typically not as extensive as permanent life insurance, providing basic coverage and thus more affordable, lower premiums.
While term life insurance isn’t the right answer for everyone, it is certainly affordable and flexible. Term life insurance can offer you peace of mind that comes from knowing your family will still be able to handle the household expenses if something happens to you.
Feel free to talk to our insurance experts about which life insurance options are best suited to your needs. For free advice and no-obligation quotes, contact Mitchell & Whale Insurance Brokers at 800-731-2228 or email us at firstname.lastname@example.org.