Everything you need to know about Term Life Insurance

Term life insurance is an excellent option at a lower cost and will protect your dependents in the case of your death.

What is term life insurance?

Term life insurance will provide a payout for the term, or length of time, you’ve selected in advance, usually for 10, 20, or 30 years. When the term expires, you may renew it, change the policy to permanent coverage, or allow it to terminate together.

  • Payment is guaranteed
  • Premiums are based on age, health, and life expectancy
  • You will not always need a medical exam for term life insurance
  • You can apply online for term life insurance and may be approved in minutes

Who should get term life insurance?

Term life insurance is first and foremost to take care of your dependent loved ones: Partners, children, brothers and sisters, parents. The payout will help them financially, either with your funeral expenses or any outstanding debts or commitments.

Term life insurance will help your dependents who have future financial commitments and rely on your financial support.

Why do you need term life insurance?

Replace lost income

You will not leave your dependents financially helpless if they rely on your income, with adequate life insurance coverage.


Funeral expenses

Burial costs are expensive. With life insurance, in the case of your passing, your beneficiaries do not have to personally cover this financial burden.

Pay off debt

Debt does not disappear, whether you are alive or not. In most cases, your debt (mortgages or other loans) may fall on your spouse or other family members who are co-signers – life insurance can alleviate just that.


Business coverage

As a business owner and partner, life insurance ensures one partner is not left with heavy financial burdens if the other dies.

College planning

Insurance proceeds can be a good supplement for your kids’ savings towards college.

Inheritance taxes

To avoid having your family getting hit with a big estate and inheritance tax bill when you pass away, make sure to be covered with life insurance to cover these added costs.

Protecting those you love is easy

When you take care of your life, it is easy to protect your loved ones

Step 1

Answer a few simple
questions about you and
your lifestyle

Step 2

Check your Quality of Life Index
to unlock great rates
and personalized advice

Step 3

Simply select the right
insurance plan and apply