What is term life insurance?
Term life insurance covers you for a set number of years, usually 10, 20 or 30. If you pass away during that time, your family receives a tax-free payout. It is the most affordable kind of life insurance and the right fit for most working families.
By Joseph Citrola, independent life insurance agent with Fastlane Financial. Licensed, NPN 20686856.
How it works
You choose how much coverage you want and how long you want it to last. You pay a fixed monthly amount for the whole term. If something happens to you during the term, your family gets the full amount. When the term ends, the coverage ends unless you renew or convert it.
Who it is for
People with a mortgage, young kids, or a paycheck their family depends on. The idea is to cover the years when the loss of your income would hurt the most.
What it costs
Less than most people expect. Price depends on your age, your health, tobacco use, and how much coverage you pick. Many healthy people in their 30s and 40s pay under a dollar a day. Many plans are approved on a few health questions with no medical exam.
How I help
I am an independent agent, so I compare term policies from several insurance companies and show you the two or three that fit you best, with the price for each. There is no cost to you for this.
Common questions
How long should my term be?
Long enough to cover the years your family depends on your income. If your youngest is 5 and your mortgage has 25 years left, a 20 or 30 year term is common.
What happens when the term ends?
The coverage ends. Most policies let you convert to permanent coverage before then without a new health check, and I will remind you before the term is up.
Do I need a medical exam?
Often not. Many of the plans I offer are approved on a few health questions. Larger amounts may ask for a quick exam, and I will tell you up front.
Can I cancel?
Yes, at any time. There is no penalty for stopping a term policy.
Want to know what this would cost you?
Three questions. Two minutes. No obligation.
Get my free quoteOr call (239) 297-6364