Term Life

Term Life Insurance

Term Insurance provides protection for a specific period of time. The benefit is paid if your death occurs during the term. Level term insurance products are the most popular plans due to the low premium. The level term can be 5 years to 30 years. The premium and the death benefit will stay level during the term of the policy.

The main advantage of term insurance is the lower premiums at a younger age. The disadvantages are the premium increases as you get older and the original term expires, and the policy does not offer any cash value or paid-up insurance.

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