Term Life

Term insurance requires the least initial outlay, however premiums increase over time and coverage is temporary.

Time Span

Typically these plans come in 10-20 year terms, and are renewable to age 75 or 85.

Flexible Premium Schedule

Premiums are typically flat for the duration of the initial term, and increase at each renewal, remaining flat during each term.

Stop and Go Premiums

Premiums for term policies must be paid regularly, otherwise the term policy lapses.

Selection of Investment Options, including a smoothed investment account

Term policies do not include any investment options.

Guaranteed Cash Surrender Values (GCSV)

Term policies do not include any cash values.

Shift from Single to Joint Last to Die

Term policies don’t offer the option to shift from Single to Joint Last to Die.

Access CSV tax free in the event of disability

Term policies do not have a cash surrender value.

Investment option to provide a guaranteed fixed dollar monthly return for life

Term policies do not offer any investment options to the policy owner.

Initial Premiums

Term policies offer the lowest initial premiums. This is due to the short duration of the terms. At the end of the term (10 or 20 years) renewing your term policy is often dramatically more expensive for the second and subsequent terms.