Term life insurance

Term insurance is a simple life insurance policy that will pay out a death benefit to your beneficiaries if you die within the term period. Otherwise, if nothing happens to you during the term period, the policy expires and typically has no additional value. Term life insurance is simpler and cheaper than permanent life insurance. Permanent life insurance provides lifelong coverage and can include a long term cash accumulation vehicle that can be accessed tax-free by the policyholders while they are alive. Permanent life insurance has a lot more features, including tax deferred cash accumulation and accelerated benefit riders where you can access your coverage amount for severe or long term illnesses or disabilities. Permanent insurance is more expensive than term insurance.

Yes. Many of our customers own a combination of term and permanent life insurance for the different purposes that they serve. Term life insurance offers affordable coverage for a period of time when you have high liabilities while permanent insurance offers living benefits such as long term care and tax efficient savings.