Affordable Term Life Insurance

Term life benefits your beneficiaries; however whole life benefits you as well but is more expensive.

In general life insurance is purchased to replace your income if you die so that your loved ones can pay debts and ongoing living costs. A well- planned term life insurance policy should provide that in the event of your death there are sufficient funds to either pay off, or ensure that the mortgage could be maintained. Of course, there may be other debts and potential expenses such as college fees to take into account.
Term life insurance pays out if the insured, dies within the ‘fixed’ term normally 10, 15, 20 or 30 years.
Your monthly premium is fixed for the term of the policy and as premiums are determined by the age at which you start the policy it makes sense to start young and for as much as you can comfortably afford. You should review your situation regularly (say every 2 years) and certainly when planning a family or other major ongoing commitment like college fees. At times like these it may be wise increase your coverage with a suitable shorter-term policy.
Typically term life policy amounts range from $100,000 to $250,000 which may seem a lot, but it pays to be realistic. Annual premiums ($100,000) male age 30, $275, age 50, $770. The equivalent for females is approximately 15% lower. A word of warning, premiums for smokers are considerably higher but most companies will reduce the premiums if you quit.

We offer a free review of your existing policies, Life, Health, Dental, Vision and any relevant supplementals or riders to ensure that you are getting the best value from your investments in security.
Talk to one our Advisors without obligation.