What is term life insurance?
Term life insurance is coverage that lasts for a limited period of time, anywhere from 10 to 30 years. During this term your payments and coverage are guaranteed to remain the same. Typically, a term policy will only pay out if you die during the term.
How can term life insurance help your family?
People frequently buy term life insurance to:
- Take the place of their income so their family can maintain their current standard of living.
- Cover funeral and final expenses.
- Pay off debts that disappear over time, such as mortgages, loans and credit cards.
- Assist with child care and educational expenses.
Don't know how much life insurance you need? Select one of the below worksheets...