Straightforward, budget-friendly life protection for a set number of years
Term life insurance provides coverage for a specific period—typically 10 to 30 years. If the policyholder passes away during the term, a tax-free death benefit is paid to the beneficiaries.
Term life insurance is ideal if you need affordable coverage during specific stages of life, such as raising a family or paying off a mortgage.
Your beneficiaries can use the death benefit to cover expenses such as:
If you pass away during the policy term, your beneficiary submits a claim to the carrier. A tax-free, lump-sum death benefit is paid out, typically without delay or taxation.
A claim might be denied if: