Term Life is the purest form of insurance. You pay a small monthly premium to guarantee a large tax-free payout to your family if you pass away.
It covers you for a specific period (the "term"), such as 20 years. If you die during that time, your family gets the money. If you outlive the term, the policy expires. It's like renting coverage instead of buying it.
It is by far the most affordable way to buy high coverage amounts. A healthy 35-year-old can often get $500,000 of coverage for less than the cost of a daily coffee.
If you passed away, could your spouse pay the mortgage and raise the kids alone? Term life replaces your income until the kids are grown.
Cover a bank loan or a key employee. Banks often require term life insurance as collateral for SBA loans.
Banner, Prudential, Lincoln, Protective, and more.
Secure your family's tomorrow, today.
You have three choices: 1) Let the policy expire. 2) Renew it annually (usually at a much higher rate). 3) "Convert" it to a permanent whole life policy with no medical exam (this is a key feature we look for!).
Maybe. For lower amounts (under $1M) and younger ages, many carriers now offer "Accelerated Underwriting" which skips the exam if your health records are clean. For larger amounts or older ages, a nurse visit is usually required.