The “term life insurance” is also called “protection-only” life insurance. This type of life insurance pays out if you die within a specified amount of time; however, if you die once this period has passed, your family will receive nothing. This is usually the cheapest type of life insurance. Insurance premiums of term insurance increase with the age of the insured as the chances of his illness and death also increase.

There are basically, two types of term coverage are available:

Term:

A 10- or 20-year term. It’s possible to renew your coverage or to convert it to whole life coverage without a medical exam.

Pick-A-Term:

Pick-A-Term differs from other coverage by the length of its term. You determine the desired duration of coverage between 10 and 40 years, according to your individual needs. In this way, you get the right coverage at the right price for your situation. If for one reason or another you need coverage for longer than you thought, you can renew your coverage annually at a reasonably-priced premium.

Pick-A-Term features:

  • Low cost insurance with set premiums to cover the period you choose.
  • Your face amount, premiums, policy fees and conversion options are guaranteed for the entire length of your coverage.
  • Renewal premiums are known and guaranteed
  • You could even benefit from preferred underwriting and obtain a lower premium.
  • Your term coverage is flexible enough to be converted to permanent coverage as your needs change.

For you

Like most people, you probably have financial obligations like a mortgage or a personal loan. Life and disability insurance gives you peace of mind knowing that your loved ones will not have financial worries in case of your premature death. you can cover:

  • Student loans
  • Mortgage loans
  • Personal loans

For your family

To fully enjoy happiness with your family, peace of mind is essential. Only life insurance can provide you with an instant estate that would allow your loved ones to go on with their lives.

you could:

  • Arrange for your family to have temporary income, for the time it takes to get on with their lives
  • Provide for your children’s education so that they could pursue their studies in case of your premature death
  • As a single parent, give your children the necessary financial resources to carry them into adulthood

For your business

Owning a business means investing finances and time without counting the hours you put in. Building a successful business often represents your life’s work. Have you thought about protecting the future of your investment?
you could:

  • Finance a buy-sell agreement
  • Insure one of your key employees
  • Meet the demands of your creditors concerning your financial obligations