Term insurance provides protection for a specified period of time and only pays a benefit if you die during that time. Most term products have level premiums during the initial period of protection and then offer a chance to renew at a higher cost. Purchasing term insurance is similar to renting an apartment, rather than buying a home.

Advantages:

• Initially, premiums tend to be more affordable than permanent coverage. This allows some people to purchase more protection for less money.
• Great for covering short-term needs such as cars, loans, mortgages, etc.
• Usually features renewal and conversion options.

Disadvantages:

• Premiums will increase as you grow older.
• Depending on the term and your age, coverage could be very expensive to continue in later years.
• No cash accumulation or equity build-up.
• Limited flexibility.

Please contact us for additional information on any of our products.