Term Life Insurance pays a death benefit if the insured person dies within the term of the policy. Plans may be "simplified issue" or "fully underwritten". Simplified issue means that you don't have to get a physical or have lab work done to apply for coverage. Your answers to a few health questions determine your eligibility. Fully underwritten plans require the completion of a physical and lab work before coverage may be issued. By going through the underwriting process, including a medical exam you can qualify for additional premium discounts for providing evidence of good health.
- Helps provide for your family's loss of income
- Covers short- term debts and needs
- Provides additional insurance protection during the child raising years
- Provides longer term protection to help pay off a mortgage, or to help pay for a college education
Your local Insphere agent is the best resource to help you determine which policy type is best suited for your family's needs and budget. Contact an agent today!