Get Term Life Insurance from Just $15/Month.
Discover life insurance options tailored to your needs, family protection, and future planning. Pricing may vary.
Term Life Insurance
Term life insurance is a simple and affordable way to protect your family financially when they need it the most. It offers coverage for a set period of time, providing a tax-free payout to your loved ones if something were to happen to you. This payout can help them stay in their home, pay off debts, or keep their future plans intact. The coverage is designed to offer peace of mind during the years when your family might be most vulnerable financially. If your needs change, you can cancel anytime without penalties.
Affordable Protection
Term life offers lower premiums than permanent insurance, making it a budget-friendly way to get high coverage when you need it most.
Ideal for Families
Provides peace of mind by covering essential expenses such as mortgage payments, outstanding debts, and future education costs, ensuring your loved ones stay financially stable.
Flexible Terms
Offers customizable coverage lengths—typically 10, 20, or 30 years—allowing you to align protection with your specific life stage and financial responsibilities.
Feature | Term Life Insurance | Whole Life Insurance | Indexed Universal Life (IUL) |
|---|---|---|---|
Duration | Fixed-Term Coverage | Lifetime coverage as long as premiums are paid. | Lifetime coverage as long as premiums are paid. |
Ideal for | People who want to make sure their loved ones are protected until major responsibilities are handled. | Those interested in permanent insurance that also helps build wealth for the future. | Individuals seeking lifelong coverage with investment potential linked to market performance. |
Cost | Typically the least expensive option in the short term. | More expensive than term life due to lifetime coverage and cash value accumulation. | Can be expensive due to lifetime coverage and market-linked growth, but flexibility allows for adjusting premiums. |
Premiums | Generally lower than permanent policies. Fixed premiums. | Higher than term insurance, but fixed premiums. | Flexible premiums; can adjust over time. |
Death Benefit | Pays a death benefit only if the insured dies within the term period. | Pays a death benefit whenever the insured passes, regardless of age. | Pays a death benefit whenever the insured passes, with potential to increase based on policy performance. |
Flexibility | Low flexibility; once the term ends, coverage stops unless renewed. | No flexibility; premiums and death benefits are fixed. | High flexibility; can adjust death benefit, premiums, and cash value allocation. |
Cash Value | No cash value accumulation. | Builds cash value over time, grows at a guaranteed rate. | Cash value accumulation tied to stock market index. |
Policy Loans | No loans are available since there’s no cash value. | Loans can be taken against the policy’s cash value. | Loans can be taken against the policy’s cash value, which may be subject to interest and market performance. |
No flexibility after the term ends. | Policy Flexibility Over Time | No flexibility after the policy is in force. | High flexibility; the policyholder can adjust coverage and premiums as needed. |
Elisa Mroz
Life Insurance Specialist
Let’s connect and discuss some alternatives to protect you and your family from financial difficulties.
