What is
Term Life Insurance
Term life insurance is straightforward, affordable, and built to protect what matters most, when it matters most. It’s often the preferred choice for individuals and young families seeking high-impact protection without long-term obligations. And when properly structured, it can also serve seniors looking to cover final expenses.
What it Covers?
Term life insurance policies offer coverage for fixed periods of 10 up until 40 years. If death occurs during
the term, designated beneficiaries receive the full benefit tax-free and with no restrictions on how the
funds are used.
Common uses include:
• Maintaining family lifestyle and covering daily expenses
• Funding education for children or dependents
• Paying off outstanding debts or loans
• Covering funeral and final expenses
How Much Coverage Do You Need?
A general guideline is 5 to 7 times your annual income. For example, if you earn $40,000 per year, consider a minimum of $200,000 in coverage. However, needs do vary, and we’ll help to assess what’s appropriate based on your goals, family structure, and liabilities.