Term Insurance

Term insurance provides pure death benefit protection with no cash accumulation.

1. Coverage is typically for a fixed period of time and will cease at a given age.
2. One-year renewable term insurance is the most basic type of term insurance and generally carries the lowest initial cost.
3. Premiums increase periodically as the insured gets older.
4. Features to look for include guaranteed renewability (regardless of insurability) and convertibiliy (to a cash value or other permanent life policy). These features can become crucial if the insured's health deteriorates.