Term

The most affordable form of life insurance, you have many choices for Term Insurance.

Term assurance provides life insurance coverage for a specified term. The policy does not accumulate cash value. Term is generally considered “pure” insurance, where the premium buys protection in the event of death and nothing else.

There are three key factors to be considered in term insurance:

•  Face amount (protection or death benefit)
• Premium to be paid (cost to the insured)
• Length of coverage (term)

Various insurance companies sell term insurance with many different combinations of these three parameters. The face amount can remain constant or decline. The term can be for one or more years. The premium can remain level or increase.