![]() eFinancial can help you select a coverage amount that offers protection for everyday expenses and critical milestones. ![]() As you think about coverage, you’ll want to consider your immediate lost income and future earnings. You decide the amount of coverage, and it is guaranteed to stay the same during the policy term. ![]() Term policies offer a guaranteed, tax-free death benefit. Your eFinancial agent can offer term life insurance policy quotes and guidance to help you make that choice. That’s why it’s important to select the right length of time for your coverage. You can renew some term policies after the term is up, but your premiums could increase significantly as you get older. Because there is a limited period of coverage, premiums are often considerably lower than permanent life insurance. What Are Common Term Lengths?Ĭommon term lengths are 10, 15, 20, and 30 years. If the term expires or you stop paying your premium, the coverage stops. If you die during that time, your beneficiary receives a tax-free cash payout. How does term life insurance work? With term life, your policy is in effect for a set length of time. A blend of level coverage and lower, guaranteed fixed premiums makes it a smart value. What does term life insurance mean ? Term life insurance is the most popular life insurance on the market.
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