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What's the Right Term Life Insurance Plan for You?

Term life insurance offers coverage to fit a variety of different needs and budgets. In most cases, term life policies remain in effect for up to 30 years, depending on the specific policy you choose. If you outlive the term of the policy, your beneficiary will not receive a death benefit.

Keep reading to learn more about term life insurance and decide if a term policy is the right fit for you.

Is Term Life Insurance Right for You?

When shopping for term life insurance, it's important to remember that the right term life insurance policy for someone else may not be the right policy for you. Choosing the right policy depends on numerous factors, including your financial situation and how long you need coverage for.

Additionally, term life insurance may be difficult to purchase if you are an older adult or have a preexisting medical condition. Even if you aren't denied coverage altogether, you may have to pay more for a term life policy and overcome additional application obstacles.

Understanding Term Life Insurance

Term life insurance can help provide temporary coverage for needs like:

  • Replacing lost income

  • Future education costs 

  • Funeral and burial expenses

In regards to the policy's death benefit amount — there are two basic types of term life insurance:

  • Level term life insurance has a death benefit that stays the same throughout the term policy
  • Decreasing term means that the death benefit will drop as time goes on.

You may even have the option of converting your term life insurance to permanent life insurance later on. 

To learn more about life insurance and to get help in your search, contact a licensed life insurance agent. Call 1-855-303-4640 to get started.

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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.

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