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Term Life Insurance
protects for a
specified-period
and pays a death benefit only. Term life
insurance generally provides the largest protection
amount
for your
premium dollar;
however, this type of policy generally does not build
up cash value.
Term Life Insurance Quotes
helps you obtain the best possible price.
Policy Benefits:
Term policies are the most
Affordable
type of protection.
This type of policy covers you for a
term of one or more years. It generally provides the largest amount
of protection and premiums are low compared to
permanent policies; due to the fact that term policies
generally pay the death benefit only, face amount only, and builds
up no cash value.
Most policies are
Renewable without evidence of insurability.
Many term policies can be renewed even if your health has changed;
however, premiums may be
higher.
Ask
what the premiums will be if you
continue to renew the policy.
Ask
if
you will lose the right to renew the policy at some age.
Term policies are also
Convertible without evidence of insurability.
Term policies can often be traded for a cash value
policy during a conversion period - even if you are
not in good health. Premiums for the new policy will
be higher than you have been currently paying.
Of Special Note
Because of Federal
Triple X legislation, not all quotes found on the Web
will offer you a guarantee for the term of the contract.
Caution: We urged you to notice the difference.
For example, on a 20-year policy contract, only 10 of the entire 20
years may be guaranteed. Thus a $500 annual premium could turn into
an $11,000 annual premium in the 11th year.
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Policies are best purchased for
temporary needs
If premature death should occur, salary replacement,
funding of a child's education, or paying off a
mortgage or other personal or business debt, would
be examples of temporary needs.
Another use would occur when the need for large
amounts of protection is apparent, such
as a young growing family, and the ability to pay
for life insurance protection is low.
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Proceeds are paid to designated
beneficiaries
Proceeds are
paid to the designated
beneficiaries in a lump sum unless otherwise elected
by the insured while alive or by the beneficiary at
the time proceeds are payable.
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Term pay out options may be:
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- Payment
Designated for a Number of Years
with a guaranteed amount of each payment determined
by an annuity table, generally not to exceed 25
years.
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Payment
Designated as a Life Income to
the payee while the payee is alive of which the
guaranteed amount of each payment will depend on the
age and sex of the payee.
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Payment of a
Designated Amount,
chosen by the payee, per $1,000 of proceeds, paid in
equal monthly, quarterly, semiannually, or annually.
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Proceed payments may be designated to be
Left At Interest
and interest may be paid monthly, quarterly,
semiannually, or annually, as elected or may be left
with the Company to accumulate.
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TermLifeAmerica.com-
Lewis Fink is licensed as an insurance agent
offering Life Insurance in the following states:
Alabama - AL,
Arkansas - AR,
California - CA,
Colorado - CO,
Connecticut - CT,
Delaware - DE, District of Columbia - DC,
Florida - FL,
Georgia - GA,
Idaho - ID,
Illinois - IL,
Indiana - IN,
Iowa - IA,
Kansas - KS,
Kentucky - KY,
Louisiana - LA,
Maine - ME,
Maryland - MD,
Massachusetts - MA,
Michigan - MI,
Mississippi - MS,
Missouri - MO,
Montana - MT,
Nebraska - NE,
New Mexico - NM,
New Jersey - NJ,
New York - NY,
North Carolina - NC,
North Dakota - ND,
Ohio - OH,
Oklahoma - OK,
Pennsylvania - PA,
Rhode Island - RI,
South Carolina - SC,
South Dakota - SD,
Tennessee - TN,
Texas - TX,
Utah - UT,
Vermont - VT,
Virginia - VA, and
Wisconsin - WI.
Not all insurance products from all insurance companies are available in
all states.
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