Term life insurance: Protection for your big plans. (And for your littlest ones.)
Term life insurance is the simplest way to protect loved ones now—and lock in your lowest available rates for a set period of time. As long as you keep your policy active for a set “term” (like 10, 15, or 20 years), it can replace your lost income, tax-free, in the event of your death. Plus, you can add more coverage or upgrade to a permanent policy later.*
Yearly Convertible Term
If you’re on a tight budget or unsure what protection you need, starting with a term policy can make sense. Later on, you can renew or upgrade.
Level Premium Convertible Term
If consistency appeals, take comfort with a guaranteed rate that won’t go up until your term runs out (or you convert to whole life coverage).
Our wide range of riders, some at additional cost, offer extra benefits to help you meet your short- and long-term goals.
You look out for loved ones every day. Term life insurance helps protect their futures, too.
It goes without saying that you could never be replaced, but with life insurance, your loved ones wouldn’t be burdened with the financial pressure that would come with your loss. Here’s why: the proceeds of life insurance can be used to help preserve your beneficiaries’ standard of living and fulfill future goals, and generally come free from federal income tax.
HOW DOES TERM LIFE INSURANCE WORK?
Term life policies often start you at a lower premium for a set period of time. You choose the length of time you’d like to carry the policy, and at the end of the term, you typically have the option to easily renew or upgrade to a permanent policy.
In this way, purchasing term life when you’re young can lock in your access to affordable life insurance for the term period—even if your health status changes. You can convert your coverage to more rewarding permanent policies, like whole life insurance. possibly at a lower price than if you’d put off purchasing until you’re older.
Could a term policy be right for you?
Term can be the perfect solution for those balancing high expenses with a high need for protection, for example, when you’re starting a family. Ultimately, term life is a cost-conscious solution to get the most protection you can now, while still providing you with an opportunity to convert to a permanent policy later on.
Finally, term insurance is a great option for people who need:
- Coverage for a well-defined period of time
- Business protection (in the event you’d lose a key employee or business partner)
- Extra coverage on top of other, permanent life insurance