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Term life insurance provides money to a family in case the policy holder passes away unexpectedly. This money is to help replace income, help pay for bills, help buy a home, help pay for college expenses or to cover any other expenses or emergencies. 'Term life insurance' is a way to continue taking financial care of a family beyond the life of the policy holder for a specific duration of time. It can help prevent devastating financial problems.
How does term life insurance work?
Term life insurance protects you for a specific number of years, known as a “term.” The
term is usually 10, 15, 20 or 30 years. You choose the term you want and the
benefit amount you would like for your family. For example, you might choose
a term of 30 years and $250,000 in coverage. If you should die during the 30-year
term and all of your premium |
1. Guarantees are subject to the claims-paying ability of the issuing insurance company. Subject to 2-year contestable and suicide period. Benefits adjusted for misstatements of age or gender. |
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payments have been made, your family receives the $250,000.
Term life insurance guarantees your beneficiaries the full
benefit amount, tax-free (based on current federal income
tax laws).1 It is pure and simple.
Can I afford term life insurance?
Term life insurance is one of the most popular types of life
insurance. It is affordable and dependable. The rates tend
to be much lower than other types of life insurance. And
best of all, the rate does not go up ever during the term
you choose. It stays the same, so there are no surprises.
As long as you pay the premium, your family is entitled
to the full amount of money, if you die during the term
period you select. At the end of the term period, premiums
increase annually or the policy expires.
Term life insurance is practical and affordable protection.
It is the number one insurance choice for families. |
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