PMB 343 4902 Carlisle Pike
Mechanicsburg, PA 17050
Mechanicsburg, PA 17050
Term Life
Term Life insurance is a specific amount of coverage for a set period of time. Coverage periods can be for multiple lengths such as 1 year, 5 years, 10 years, 20 years, or even 30 years. Term Life is generally the least expensive form of life insurance and provides a cost-effective solution for a fixed period of time. You have the flexibility to change your policy should your temporary needs become permanent.
Things to know about Term Life insurance
- Affordable. Maximum coverage for a low cost
- Used to protect mortgages and cover college expenses
- Used with permanent insurance to cover different stages of your life.
- No cash value accumulation
- A Return of Premium rider ensures your beneficiaries will be protected and you’ll receive all your premiums back if you outlive your policy.
Features of Term Life
> Different lengths of coverage
Term Life insurance is available in different lengths including 10, 15, 20, and 30 years coverage. Choosing which length of term insurance requires a review of your debts, financial needs, and dependent’s needs.
> Guaranteed Renewable
You can renew your coverage after the term expires. Premiums are likely to be higher after that initial term, so if you feel you need coverage beyond your initial term of coverage permanent life may be right for you.
> Guaranteed Convertible
When your life changes, so can your insurance! Your Term Life policy can be converted to a permanent coverage policy as your needs change. Best of all, this is done with no questions asked and without a physical.
> Tax-Free Death Benefit
Your death benefit will be free from income taxes. It is guaranteed to your beneficiaries as long as the policy is in force.
Visit the Insurance 101 knowledge base to learn more >
Key Insurance Terms
- Premium: A set fee usually charged monthly, that you pay an insurer for a policy.
- Deductible: The amount of money you will have to pay out of pocket before your insurance begins to reimburse care, although some plans provide some reimbursement before the deductible.
- Co-Pay or Co-Payment: A set fee—such as $10 or $25—that you pay for medication or care.
- Co-Insurance: A set percentage of the total cost that you pay for medication or care.
- Network: A contracted group of doctors, hospitals and care providers who work with your insurance plan at lower rates.
- Out of pocket maximum: An annual limit on the amount of money you have to pay before your insurance covers all remaining costs. This limit does not include plan premiums.
Schedule a meeting with us to discuss how life insurance can work for you
Riders Available!
We have a number of riders that you can choose from to customize your insurance coverage. Some riders available are:
- Return of Premium
- Child Rider
- Accidental Death
- Waiver of Premium
- Long Term Care
- Spouse Rider