Term insurance is suitable for young families

Affordable Coverage

Term life insurance is well-suited to meet high, short-term protection needs for the lowest initial cost.

Term life insurance coverage can do a good job of meeting immediate needs and may provide the opportunity to later move or convert to permanent life insurance without providing proof of health.

One of the simplest and most effective ways to ensure your insurability is to apply for a 10 year Term policy with the intention of conversion to a 20 year Term Policy within 5 years. Some insurance companies will allow this without having to provide any additional medical or underwriting information.

Why Buy Term Life Insurance?

If your budget is a concern, it may be wise to qualify for as much term insurance as your budget will allow and plan to convert at a later date.

This puts you in a position to convert all or a portion of your term life to permanent insurance at a later date without having to prove insurability.

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Insurance Glossary

Cash value: Also called "cash surrender value". The amount available in cash upon voluntary termination of a policy by its owner before it becomes payable by death or maturity.

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