Stewart Financial Services

Term Life Insurance

Term Life Insurance:

Term Life Insurance is the ideal choice for both temporary and life-time needs of individuals and families. Term Life Insurance can be used to cover a variety of Insurance needs, such as a Mortgage Insurance , personal or Business Continuation Planning or replacement of income after a death, to name just a few. Its real strength is in providing larger amounts of Insurance protection at a lower cost. This can be especially important to a young family with small children where there is a need to provide financial security, at low cost, for the years when the children are financially dependent on their parents.

 

Term Life Insurance is designed to provide you with insurance protection for a set period of time, at an affordable price. If you die while the policy is in force, your beneficiaries can receive the amount specified in your policy, tax-free. Life Insurance will bypass your estate, going directly to beneficiaries, usually very quickly and privately.

 

When choosing Term Life Insurance, it is important to select the term that will cover you through important life events. With Term Life Insurance, you are able to choose a benefit amount and a term that will best meet your needs. Term Life Insurance coverage can do a good job of meeting immediate needs and may provide the opportunity to later move or convert to Whole Life Insurance or Universal Life Insurance without providing proof of medical and lifestyle evidence.

 

You may find that a combination of different types of insurance may be required to provide the financial security you want for yourself and your family.

 

Term plans may also be renewable after 5, 10, 20 or 30 years without providing proof of health. The price increases as appropriate for your age at renewal. Term Life Insurance can be used as an initial step before purchasing Whole Life Insurance or Universal Life Insurance, or to increase coverage over and above your Whole Life Insurance or Universal Life Insurance.

 

When considering purchasing a Term Life Insurance policy, make sure that it can be converted to a Whole Life Insurance or Universal Life Insurance policy without having to re-apply and prove you are still in good health. This convertibility feature can be extremely valuable if you decide you want to keep your term insurance past the specified termination date.

 

Contact Stewart Financial Services for more information regarding Term Life Insurance.