What is Term Life Insurance?

Term life insurance is a type of life insurance coverage that provides protection for a specified term, typically ranging from 10 to 30 years. It offers a death benefit to the beneficiaries if the policyholder passes away within the term. As it's generally more affordable compared to permanent life insurance, it's often chosen to provide temporary coverage for specific financial obligations, such as replacing lost income, paying off a mortgage, or funding a child's education.

Determine how much your income would need to be replaced for your loved ones. For example, the money needed to cover your child's college tuition.

Tailored to your financial needs
You get to choose a specific term that aligns with your coverage needs, such as the duration of a mortgage or the years until retirement. This flexibility allows you to tailor your coverage to your specific financial obligations.

Income replacement
Term life insurance has the ability to replace lost income to your loved ones in the event of your death. This can really help provide financial support and peace of mind to your beneficiaries to cover or maintain lifestyle expenses.

Supplemental coverage
Term life insurance can be used to supplement existing coverage, such as life insurance provided by an employer. This additional layer of protection can ensure loved ones are taken care of in the event of an unexpected death.