Term Life Insurance

Term life insurance pays your beneficiaries a set amount in the event of your death within a specific time period, or term.

How it Works

Smaller, affordable policies

Term life insurance guarantees a set amount in the event of your death if you pass within a specific term, usually 10, 20 or 30 years. There is no savings component, making it an affordable option. Term premiums (or monthly/yearly payments) are based on a person's age, health, and life expectancy.

Is Term Life Insurance Right for Me?

Benefits:

  1. Simple and cost effective

  2. Easiest approval process

  3. Best amount of coverage for the least amount of cost

Cons:

  1. No cash savings component

  2. No living benefits

  3. Coverage will end if not needed before the expiration date

  4. Expensive to renew

Frequently Asked Questions

What Is the Difference Between Term Life and Permanent Life Insurance?

Term Life Insurance covers a predetermined period of time, typically between 10 and 30 years. Term policies may be renewed after they expire, however premiums are recalculated based on the policy's value, and policy holder's age, gender, and health. Term policies do not have a savings component. There are some term policies that offer cash back at the end of the term, however these policies are typically just as expensive as a permanent life insurance policy.

Permanent Life Insurance covers the entire life of the holder and includes a savings component, where the cash value of the contract accumulates for the holder. The holder is then able to withdraw or borrow against the savings portion of their policy.

Do You Get Your Money Back at the End of a Term Life Insurance Policy?

The policyholder will not have their money returned once a term life insurance policy expires.

Get In Touch.

Have questions? Ready to apply? We are always available

6AM-10PM Monday through Friday.

An agent will normally respond within 24 hours or less or you can schedule a specific time below.

ask@info.stellamarisagents.com

888-290-2484

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