Term life insurance
Term Life Insurance pays a death benefit if the insured person dies within the term of the policy. Plans may be “simplified issue” or “fully underwritten.” Simplified issue means that you don’t have to get a physical or have lab work done to apply for coverage. Your answers to a few health questions determine your eligibility. Fully underwritten plans require the completion of a physical and lab work before coverage may be issued. By going through the underwriting process, including a medical exam, you can qualify for additional premium discounts by providing evidence of good health.
Benefits of term life insurance
-
Helps provide for your family’s loss of income
-
Can help cover short-term debts and needs
-
Can help provide additional insurance protection during child raising years
-
Can help pay off a mortgage or a college education
Additional resources
Life is about much more than nostalgic moments. While you may cherish those intimate times with family and big celebratory get-togethers, there are also the less talked about necessities, like paying bills and doing your…
For a parent, the goal of purchasing life insurance is to create financial protection for your family. A well-planned policy can help your family pay off debts and loans, pay down mortgages, and even contribute…
