Whole Life Insurance
Permanent cover with a guaranteed death benefit and a cash value that builds.
Read more →Life & Health
Term Life Insurance
A fixed amount for a fixed number of years, at the lowest cost per dollar of cover.
What this cover does
Term life covers a defined period — typically 10 to 30 years — chosen to match the span where other people depend on your income. It builds no cash value, which is exactly why it buys several times more death benefit per dollar than permanent cover.
Typically included
- Level death benefit for the full term
- Fixed premium that cannot rise during the term
- Tax-free lump sum to named beneficiaries in most circumstances
- Convertibility to permanent cover without a new medical, on most policies
Common add-ons
- Waiver of premium if you become disabled
- Accelerated death benefit for terminal diagnosis
- Child and spouse riders
- Return-of-premium versions
- Increasing or decreasing benefit to match a mortgage
Questions
What people ask about term life
How much cover do I need?
A common rule of thumb is ten to fifteen times income, adjusted for the mortgage, education costs and what is already in place. We work the number rather than applying a multiple blindly.
What if I outlive the term?
The cover simply ends. That is the trade for the lower price. Convertible policies let you move to permanent cover before the term runs out without fresh underwriting.
Do I need a medical exam?
Many policies now underwrite on data and a questionnaire alone up to meaningful amounts. Larger sums generally still require fluids and a paramedical exam.
Often taken together
Related cover
Final Expense
A small permanent policy sized for funeral, burial and last medical costs.
Read more →Quote Term Life Insurance
Tell us what you already have and we will show you where this fits — or tell you plainly that you do not need it.