Term Insurance provides coverage for a specified period of time, as long as the premiums are paid. The length of Term Insurance can be 10, 15, 20, 25, or even 30 years. Term Insurance does not build cash value. It will pay the beneficiary the policy value should the insured pass away during the term selected. Because the premiums of term insurance are lower than Permanent Insurance, it is easier to purchase a higher level of protection.
Term Insurance is a good choice to cover those needs that will disappear in time, such as a mortgage, car payment, or college tuition requirement.
Contact us for more information. We would welcome the opportunity to meet with you to discuss the many available Term Insurance options.