Term Life Insurance  Overview

Term Life Insurance Overview

Term insurance is a life insurance policy that protects the insured for a specific time (term) frame. Often the premium and the amount of protection (life insurance amount) will be guaranteed for the length (term) of the policy. The options for term insurance vary from a one year, 5, 10, 15, 20 25, or even a 30 year guaranteed policy.

Benefits of Term Insurance:  The premium will be much less than the cost of permanent whole life insurance. You will be able to buy a much higher amount of life insurance with a term policy compared to permanent life insurance. Please note, buying life insurance depends on numerous variables.

Potential Pitfall:  Term insurance only offers protection for a preset length of time. For example, if you are age 30 and purchase a 20 year term insurance policy your coverage will expire at age 50.

Summary:   Term insurance is extremely useful and relevant in numerous circumstances for most people. Again, we always encourage you to call our office to discuss your personal life insurance needs and wants so we may offer you the right type of life insurance for your unique situation.  We welcome your questions at any time about term insurance.

Jack D Davis

Over 30 years in the life insurance industry offering innovative products ranging from tax-free retirement plans to term life insurance to final expense and mortgage protection insurance. Business solutions include advice on buy/sell funding and key executive "golden handcuff" program to retain your most valuable employees.

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