What is Term Life Insurance?


If you are shopping around and asking yourself "what is term life insurance?" you are not alone! Many consumers struggle to find helpful term life insurance information to explain the differences between the various types of life insurance protection. But if you want to know "what is term life insurance," keep reading and we'll explain.

Term life insurance provides coverage for a specific period of time. You choose the term length as well as the death benefit amount (or, coverage amount). If you die while your policy is in force, your beneficiaries receive the death benefit, tax-free (based on current federal tax laws)!

Term life insurance is considered an affordable, dependable and practical solution. It's the #1 life insurance choice for families.

The rates for a term life policy tend to be much lower than other life insurance options, such as universal life. Plus, the rate does not go up during the term length you choose! You and your loved ones are protected and there are no surprises.

In addition, term life insurance is a smart choice as part of an overall financial plan. Because the premiums are affordable, you can choose a term length and coverage amount that fits all your needs. You can plan to repay debts, cover ongoing living expenses, and save for future education costs for your loved ones.

When choosing term life insurance, you should also consider whom to cover. Obviously the primary breadwinner of the family, but it's wise to protect against the loss of income that both earners provide. Additionally, consider life insurance coverage for a spouse that does not contribute financially, but cares for children or elderly parents in the home. For example, the loss of a stay at home parent could create large childcare costs. Click here for an article on the 10 common mistakes people make when purchasing term life insurance.

Term life insurance is important protection. If you still need term life insurance information or are still asking yourself "what is term life insurance?" please contact AIG Direct so one of our helpful and knowledgeable licensed life insurance agents can help answer your questions.

Get started on your free term life insurance quote now or speak with a licensed AIG Direct life insurance agent by calling 1-800-586-3072.

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1-800-586-3072


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