Frequently Asked Questions
What is term life insurance?
Term life insurance doesn’t insure the policyholder for the entirety of their life; the number of insurable years are predetermined before taking out a policy. If the policyholder outlives that time frame, the policy will expire and there will be no payout. Term life insurance does not earn cash value.
Term life insurance may be best for people whose income covers the costs of temporary expenses for their family, like tuition or a mortgage. The term of the policy is determined by the number of years needed to pay off the expense, and ensures a family member won’t be burdened with the cost in the event of an untimely death.