What Is Term Life Insurance?
It Cares For Your Family If Something Should Happen

Term Life insurance is generally the least expensive and least complicated type of life insurance. It provides insurance protection at a low cost and has premiums that remain level over a specified period of time such as 5, 10, 15, 20, 25 or 30 years. After the initial level period expires, the annual premium increases each year, subject to a guaranteed maximum. If you die within the term period, a death benefit is paid to your beneficiary. If you are still living at the end of the term, protection ceases unless the policy is renewed. There is no "accumulation" element, or cash value with term insurance. Many term life insurance plans can be converted to permanent life insurance plans without evidence of insurability.

In general, term life insurance is suitable when your life insurance needs are temporary or your life insurance needs are long-term but your budget does not permit the higher premiums of permanent life insurance.