Term Insurance

  • Term Life Insurance is usually recommended for those with a temporary need for life insurance such as replacing the income of the bread winners of a household, covering the amounts borrowed for a mortgage or other loans.  It is also used by business partners as a funding tool for buy-outs or for covering the key-persons in a company. 
  • As the name implies, term refers to the length of time that the life insurance coverage is available – namely 1 year, 5 years, 10 years, 20 years, 25 years and so on. Sometimes term insurance coverage is offered to a certain age such as term-to-age 65, term-to-age-75, or even term-to-age-100. Whether it is offered by years or by age, premiums remain level for the duration of the term or until the specified age.   
  • Term Life Insurance generally costs less per thousand than Whole Life insurance at each specific age; however one should bear in mind that if there remains a life-long need for life insurance, each time the term expires the cost will increases significantly because the insured will be older.  

To find out if Term Life Insurance is what you need call our toll free number or E-mail us at elchostewart@weblifefinancial.comGet a Quote.

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