9 a.m to 5 p.m EST 7 days a week
Term Life
Term life insurance is a type of life insurance that provides coverage for a specified period, known as the “term.” It is designed to provide financial protection to the policyholder’s beneficiaries in the event of their death during the term of the policy. Here are some key features of term life insurance
- Coverage Period: Term life insurance policies are typically available for terms of 5, 10, 15, 20, 25, or 30 years. The policy remains in force as long as the premiums are paid during the term.
- Death Benefit: If the insured person dies within the term of the policy, the death benefit is paid to the beneficiaries named by the policyholder. The death benefit is usually a lump sum payment and is generally tax-free.
- Premiums: Premiums for term life insurance are generally lower compared to other types of life insurance, such as whole life or universal life insurance. The premium amount is based on factors such as the insured person’s age, health, occupation, and the desired coverage amount.
- Renewable and Convertible: Some term life insurance policies offer the option to renew the coverage at the end of the term, although the premiums may increase. Additionally, certain policies may have a conversion feature that allows the policyholder to convert their term policy into a permanent life insurance policy without undergoing a medical examination.
About Our Company
We Are Committed To Giving You True Value
Get Life Policies allows you to shop 23 of the most trusted insurers in one place.