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Scott Smith Licensed Broker

By: Scott Smith




Life insurance Insurance is crucial for everyone to have. We never know when a death might strike, and being prepared in the event of a death is a fundamental necessity that everyone needs to do. Term life insurance is a life insurance product that covers this essential need by helping to pay an amount on death that helps with the costs associated with someone passing away, such as medical bills, funeral costs, outstanding debts, and more.

What is Term Life Insurance?

This type of insurance is also often called pure life insurance. This is because it guarantees the payment of a death benefit to a beneficiary if the policyholder (the person the death benefit is placed on) passes away during a specified period of time.

For example, Jack (the policyholder) takes out a term life insurance policy on himself for a term of 10 years. He makes his wife, Penny, the beneficiary. If Jack passes away 3 years later, Penny will get the payout specified in the agreement.

Level Premiums

You can purchase term life insurance for generally 10, 15, 20, 25, or 30 years. During that time, the premiums stay the same from the start of the term right to the end. Using Jack's example, he'll pay $45 a month for all 10 years unless he passes away earlier, in which case the money goes to Penny.

Based On Individual Information

Term life quotes are based on personal information instead of general demographics. These quotes consider a person’s age, health, life expectancy, and more. This often saves people money because they pay based on how healthy they are rather than the assumed general health of the population.

Expiry Date

Term life insurance expires at a certain point, whatever term was agreed upon before. If the policyholder passes away before the expiry date, the face value of the policy goes to the beneficiary. If the policy expires before the policyholder passes, there is no payout. The policyholder can renew the term, but there are recalculations of premiums according to the new age and health of the policyholder.

Why Get Term Life Insurance?

This insurance is one of the less expensive forms of life insurance. Because of the set term and guaranteed payments, the cost stays level throughout the entire term. In addition, those who get this insurance policy have coverage if they develop a health complication that leads to death, because their policy prices are set for the rest of their term.

This insurance is a superb way to cover your life insurance needs if you don't have a lot of money to dedicate to life insurance payments and are just looking for basic coverage of the costs associated with death.

At death, a death benefit that can be used to pay off debts, a home, cars, or provide for your children’s education, provide additional income for your spouse, or provide for any other final needs. This death benefit passes federal income tax free to your beneficiaries.

Conversion Privilege and Features
While the policy is in force, it may be converted to any plan of Whole Life or Endowment insurance offered by the Company at the time of conversion without any evidence of insurability required and for an amount up to the face amount of the original policy.

Additional Living Benefits - With No Additional Charge Should Come With Your Policy

With this benefit, the Company can provide up to 100% of the death benefit if the Insured is diagnosed by an authorized physician as Terminally Ill where life expectancy is 24 months or less (some states 12 months).

With this benefit, if you are confined to a nursing home at least 30 days after the policy is issued you
can receive a monthly benefit of 2.5% of the face amount up to $5,000 per month.


With this benefit, you can accelerate a portion of your death benefit early if an authorized physician
certifies that you are permanently unable to perform at least 2 activities of daily living (ADL’s).
Activities include eating, toileting, transferring, bathing, dressing, and continence.


Adding an Accidental Death Rider, means if you were to pass away from an accident, the policy will pay double the amount to your beneficiaries.

Who Should Get Term Life Insurance?

Because of its inexpensive nature, it is a great choice for people looking for basic coverage and low payments. This could include:

  • Young, Newlywed Couples

  • Sole Financial Providers

  • Business Owners

  • Individuals with Significant Debts

  • Stay-At-Home Parents

Get a Term Life Quote

Using term life insurance to cover your debts and costs after passing away can leave your loved ones with better protection. Visit our website to get more information about term life insurance or get a Term Life Quote by text message.

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