Term Insurance

term-insurance

Term insurance is the simplest form of insurance and is the most affordable insurance product on the market and is often referred to as temporary insurance because it is ideally suited to cover temporary risk. The coverage period is usually for 10 or 20 years during which time the insurance provides protection against financial loss resulting from the death of the life insured.  At the end of the specified period the insurance protection ceases unless the policy is renewed or converted to a permanent product if that is available in the policy contract provisions.

Short Term Needs For Life Insurance

  • Cover off mortgage debt and other loans
  • A child's education
  • Replacement income of the life insured

Long Term Needs For Life Insurance    

  • Capital gains taxes on your assets
  • Burial costs
  • Equalizing an estate


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