Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

What are the Benefits of Term Life Insurance?

One of the biggest benefits of term life insurance is that it helps your family replace your lost income upon your death. Unlike permanent life insurance policies which remain in effect for your entire life (assuming your premiums are paid on time), term life policies remain in effect for a specific term or period of time.

4 Benefits of Term Life Insurance

To determine if term life insurance is a good fit for you, read through some of the benefits below.

1. Cost

Term life insurance is typically more affordable than permanent life insurance because it only provides protection for a set amount of time. Policy premiums are determined by your insurance carrier. Factors include age, health, occupation and others. Traditional term life insurance policies usually require a medical exam and a health questionnaire to determine eligibility. In general, a healthy, non-smoking person in their 20s will pay much less than a 60 year-old smoker, for example.

2. Versatility  

Although the death benefit of a term life insurance policy can be used any way the beneficiary chooses, the funds are commonly used for:

  • Funeral and Burial Expenses
  • Loss of Income
  • Medical Bills
  • College Loans
  • Mortgages
  • Rent
  • Business Expenses
  • Others

3. Flexibility

Term life policies enable you to choose how long you want your policy to last. Some people purchase a term life policy that will last long enough to cover their children while they are still financially dependent. Others purchase a term policy to ensure their spouse will be able to continue to pay their mortgage. As these financial needs disappear, so might your need for life insurance policy.

4. Simplicity 

Term life insurance policies are pretty cut and dry: as long as you pay the premium in full and on time, you are covered for the duration of the policy. When choosing a term life policy, you'll simply decide:

  • The coverage amount
  • The length of the term
  • The insurance company you prefer to work with

A licensed life insurance agent can help you better understand life insurance. Speak with a licensed agent at 1-800-966-7169.

----------

This is an advertisement for life insurance. 
*Applications for term life insurance are subject to acceptance by insurer. Issuance of the policy may depend upon answers to health questions. Rates and coverage amounts depend upon the carrier selected and are subject to underwriting approval and are not guaranteed. You will receive only the benefit amount in the policy issued.

Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

Related Information

What are the Benefits of Term Life Insurance?

Protect your family from facing a financial burden after your death with a term life insurance policy.

Read More

Your Questions to Expect on a Life Insurance Application

Learn what will likely be asked on your life insurance application.

Read More

Guide To Living Wills

A living will gives you control of your care in an end-of-life situation.

Read More

Life Insurance Overview

How much do you know about your life insurance coverage? Test your knowledge with this life insurance overview.

Read More

Life Insurance Meaning and Importance

What is the meaning of life insurance and what is its importance? Life insurance is financial protection for your beneficiaries in the event of your death.

Read More

Term Life Insurance: Exclusions and Limitations

Life insurance pays out a death benefit when you die, but there are a few common exclusions that could prevent your beneficiaries from receiving any money.

Read More

How to Calculate How Much Life Insurance You Need

Use this step-by-step guide to calculate how much life insurance your family will need to sustain their lifestyle after you die.

Read More

What is the Point Of Life Insurance?

Life insurance protects your loved ones from financial hardship if you die unexpectedly.

Read More

A Guide to Spouse Life Insurance

You can buy a life insurance policy on behalf of your spouse or partner. Find out how this type of insurance works and how to purchase it.

Read More