Term Life Insurance
Did you ever wonder what could happen to your family’s financial solvency if you passed away? Term life insurance will provide your family with the financial security they will need if tragedy strikes. First Senior Financial Group can help you determine whether term life insurance is right for you.
What Is Term Life Insurance?
Term life insurance policies last for a certain increment of time – one year, five years, ten years and so forth. Policyholders pay a set premium for the duration of the term. For example, if the term is for five years, the policyholder would pay a premium for five years. If the policyholder passes away during the time period, then the chosen beneficiaries) get the value of the life insurance policy, also known as the “death benefit.”
Term Life Insurance Benefits
Term life insurance offers some very good benefits for policyholders:
- Protection – Financial security is the primary benefit of term life insurance. If you pass away during the length of the term, your family will receive a large sum of money. You can live in comfort knowing your family will be provided for. But it’s not just for your family. Policyholders can also allocate their death benefits to a favorite charity or similar group.
- Affordability – Premiums for term life insurance policies are usually cheaper than payments for other types of insurance like whole life or universal life.
- Renewability – Customers can easily renew their policies if they expire.
- Conversion – Many term life insurance products can be converted into whole life or universal life policies, a great benefit if and when a person’s lifestyle changes.
Term life insurance is a way to Crash Proof your family’s financial future. Why take the risk? First Senior Financial Group has term life insurance experts on board who will gladly help with any questions you may have.
Contact us today to schedule a free consultation!