Term Life Insurance

Term life insurance is life insurance contract that provides coverage at a fixed rate of payments for a limited period of time and pays a benefit in the event of the death of the insured during a specified term. Once the policy expired, it is up to the policy owner to decide whether to renew the term life insurance.

Advantages of Term Life Insurance

The most inexpensive policies among the many types of policies on the market that stay at a fixed rate throughout the contract period; such as 10, 20, 30 years. The simplicity and low cost of these policies can provide larges amount of coverage for young families in time of needed. A good option is to buy a term life policy that is guaranteed convertible. There are no other fees due for this type of insurance.

Disadvantages of Term Life Insurance

Once the contract period ends, it may be difficult to renew the policy if the client are at their older age and if the company only offer term products; even if annual renew term available, it can get ridiculously expensive and premium increase annually. Many elderly with medical condition end up losing the coverage at the end of the term if convertible option are not available Due to medical condition, many elderly became uninsurable when apply for a new policy. They either end up with no insurance protection or many can obtain small final expensive or guarantee issue whole policy for a very high premium if they can afford. People who purchase these type of policy usually get an alternative policy that will provide additional guarantee coverage for life.

  Services

1. Life Insurance
   1. Whole Life
   2. Universal Life (IUL/GUL)
   3. Term Life
2. College Fund Planning
3. Retirement Planning

Frequently Asked Questions

1. How much insurance should I purchase?
2. Which type of policy is best for me?
3. How many beneficiaries should I have?
4. What if I’ve already been declined?
5. Can I still qualify if I have an illness?

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