Term Life Insurance
What is Term Life Insurance?
Term Life Insurance is the simplest and most affordable type of life insurance. It provides coverage for a specific period (term) and pays a death benefit if the insured passes away during that term.
Key Features
- Fixed premium rates for the duration of the term
- No cash value accumulation
- Lower initial premiums compared to permanent insurance
- Coverage periods typically range from 10 to 30 years
- Commission Structure: 30% first year, 4% renewal
Best For
- Young families with children
- Individuals with temporary financial obligations
- Those seeking maximum coverage at minimum cost
- People with specific financial goals (e.g., mortgage protection)