Term Life Insurance
Affordable term life insurance is available for individuals. Term life insurance or term insurance is a binding contract between an individual and an insurance company. The insurance company agrees to pay the beneficiaries of a life insurance policy upon the death of an insured person for a contracted premium or payment. Most of our clients agree that term life insurance is necessary to ensure that their families have the money to replace lost income, provide funds to pay off a mortgage and other debts, complete college savings plans, and create a legacy for future generations. The team at Term Insurance Design will help educate your family and empower you to make decisions that will protect your family when quality life insurance is needed.
Why Term Insurance?
Clients choose term insurance for a number of reasons. Term insurance allows clients to obtain large amounts of death benefit coverage at an affordable cost. Because term insurance only covers the insured person for a specific period of time such as 10 years or 20 years, an insurance company can examine the probability of a person passing away within that time frame. As you might guess, younger people are charged lower rates than senior citizens because they are less likely to die.
People often choose term insurance because they feel that they only will have insurance needs for a specific time period. For example, you may have young children in school for the next 10 years. If you passed away, you would want to obtain enough coverage to ensure they are cared for adequately and their college tuition is paid. You might consider a 10 or 15 year term policy to cover the risk associated with these concerns.
Term life insurance pricing is based on the gender, smoking status, health, and age of the person applying for coverage. If the applicant has a history of medical issues, high risk occupation, or even a conviction for reckless or drunk driving, prices for life insurance can be rated up to account for the increased cost of the risk.
Tough cases are our specialty!
At Term Insurance Design we are experts in working with term life insurance company underwriters to get you the best rating and price. We have a team of former underwriters on staff that will find the insurance carrier that is most able to offer a liberal rating and price for your condition or challenge. Don’t hesitate to ask us to check on your condition – even if you already have a policy in force.
LET US FIND YOU THE BEST TERM LIFE INSURANCE POLICY