Term Insurance 101

What does term insurance mean?


What Is Term Insurance and How does it work?

Do you get money back from term insurance?
Is term life insurance worth getting?

Term insurance is a type of life insurance policy. This policy could be a perfect match for a person depending on what they are planning for in life. A term policy is designed to payout a death benefit up until a specified period. Typically 10,20, and 30 year terms. 


Types Of Term Insurance

There are several types of term insurance you can choose from. The three most common are Decreasing Term, Increasing Term, and Level Term. Decreasing meaning the death benefit decreases as the policy ages. Increasing means the death benefit increases as the policy ages. Level meaning the death benefit stays the same.


Features Of Term Insurance

Insurance policies have features that add value to them. Term insurance has two unique  features people can use for their benefit; ROP(Return of Premium), and Coverability. Return of premium pays back the policy holder premiums, if they outlive the policy. The convertibility allows the policy holder to change to a permeant policy later on.


Is Term Insurance Worth Purchasing?

Is term insurance a good investment?
What happens with life insurance at end of term?