Term Life Insurance

Term life insurance options available throughout the country from Coral Springs, FL

Term life insurance is a life insurance policy that provides a level death benefit for a specified period of time, available for 10, 15, 20 and even 30 years. Our team of experts in Coral Springs, FL will help you determine the appropriate period based on your situation. The premiums on a term life insurance policy are also level for the specified number of years of the policy.

Benefitting your loved ones

You can add a term life insurance policy rider to cover your dependent children and your spouse, and many policies even have a return of premium benefit. A return of premium benefit (ROP) simply means that upon the completion of the term of the policy, the insurance company will refund the premiums paid by the insured back to him/her if there has not been a claim made. Any rider that is attached to a policy will have an additional premium.

Competitive rates

Let us compare rates of a term policy besides a universal life insurance policy. Take, for example, a 35-year-old male who wants $1,000,000 in life coverage: A 30-year term policy will cost him somewhere around $69.14 a month. A universal life policy will cost him somewhere around $441.67 a month. For some policyholders, having a 30-year term policy makes more sense than having a universal policy. As long as you have coverage, either one is a great choice. Term life insurance is designed for short-term needs; whole life, modified whole life or universal life insurance is designed for permanent long-term needs.

When obtaining life insurance coverage, the right way to determine which coverage will be best begins with answering the following questions:

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  • What are the current living expenses that your family will need to cover when you are not around? 
  • For how long will your family need this help? 
  • If you have small children, in how many years will they be able to support themselves? 
  • Do you want to leave an inheritance to your loved ones at any given age if you die? 

These are some of the questions that you need to answer in order to determine the right course of action. For assistance with term life insurance, please feel free to contact our office in Coral Springs, FL at 888-282-3650 and a certified member of our staff will be glad to help.