Term Life Insurance

Simple, Affordable Life Insurance Coverage

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.

Benefits of Term Life Insurance

  • Affordability: In most cases, term life insurance is less expensive than whole life insurance. Because the insurance company’s risk is limited to a set number of years (as opposed to your entire life), you can generally get more insurance for less money compared to permanent life insurance.
  • Targeted Timing: Term insurance is also very beneficial for those times in your life when your family would be most vulnerable if you or your spouse should die unexpectedly. Crucial times could be when your children are very young or when you need two incomes to balance your family budget.
  • Convertibility: Term insurance can usually be converted into a whole life policy if your needs change or if you reach the age where term life insurance is no longer available (usually age 65.)

Affordable Peace of Mind

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.

Questions About Life Insurance?

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 info@mitchellwhale.com.

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