The affordable way to buy maximum life insurance protection. Term insurance provides a low cost way to get maximum insurance protection for a temporary period of time. Term insurance builds no cash value. It pays a benefit only if you die during the term of the policy coverage.
Premium rates increase at the end of the guaranteed policy period.
These policies have become very popular because of their low cost and the availability of a relatively long term of coverage. Policies require that evidence of insurability be furnished at renewal to qualify for these available rates. It is important to understand the terms of any insurance policy that you are considering before making a purchase. If the low dollar outlay is your main concern, and your insurance need is for a period of 20 years or less, term may have an advantage. If your need for coverage will last beyond 20 years, a low cost Universal Life or Whole Life policy may be more effective.