What is Term Life Insurance?
Life insurance does not always demand a lifelong commitment. Term life insurance provides low-cost coverage options, ensuring that your loved ones are protected when it is required the most. It provides you a fixed amount of insurance for a specific period, which could be 5, 10, 15, 20, 25 & 30 years or more. You have the option of specifying the amount of time required.
Benefits of Term Life Insurance
- It is simple to understand and provides medical coverage at affordable rates.
- Coverage options are available up to $10 million.
- Ensures a tax-free payment to the beneficiary, in case of your death while the policy is effective.
- It provides financial protection that you can customize to meet any of your needs like debts, funeral expenses, mortgage or rent, child-care costs, or other living expenses.
- You can convert your policy into permanent or universal life insurance before the age of 71, without any health questions or a medical exam.