Term Life Insurance

Protect your Family

Term life insurance provides a death benefit if the insured person dies during the specified term which is stated in the policy. When the term expires, the insurance coverage also terminates.

Term life insurance is the lowest cost way to insure a person, family or business over a specific period of time.

Term life insurance policies do not have a cash value and only provide a death benefit to the beneficiary or beneficiaries of the insured or owner of the term life insurance policy.

The yearly premium paid for the life insurance policy is determined based on the age, health, and life expectancy of the insured. You can typically purchase term insurance policy in 10, 15-, 20-, 25- and 30-year terms.

Term Life Insurance Conversion

A term conversion is a “rider” in a term life insurance contract that gives the owner or the insured the ability to convert the term life insurance policy into a permanent life insurance policy without requiring the term life insurance owner to prove their insurability or health status. 

This is very important because if the insured does become terminally ill during the term of the insurance policy, the owner can convert the policy into a permanent insurance policy.

When converting your term policy into a permanent insurance policy, the insurance company will use the original health rating that you received during the initial underwriting of the term life insurance policy.

You do not have to take another health examination or prove your insurability if you use the term conversion rider in the insurance policy.