Term Insurance
Term life insurance is affordable, easy-to-understand coverage that gives you flexible protection. Your insurance costs are guaranteed for a term (specific period of time), until it renews for another term. If the insured dies while the policy is in effect, a tax-free payment will go to the beneficiaries. Most of the term policies, can also be converted to permanent insurance regardless of any changes to your health, occupation or lifestyle. Term insurance can also be renewed up to age 85.
Why Term Life Insurance?
Term insurance is an effective solution if you are:
Looking for affordability and value
Looking for temporary protection (for example, to cover a mortgage or business loan, or until your children have finished school)
A business owner who needs key person protection and/or a way to fund buy/sell agreements
Types of term life insurance:
Term insurance are available in T-10, T-20, T-30, T-40, Term to Age 65, Term-100 and also in pick a term, where you can choose the between 10 to 40 yrs. Term life is available as single, joint, joint first-to-die and joint last-to-die.
How it works?
Unlike permanent insurance which lasts for lifetime, Term life insurance typically provides coverage which expires at a specific age or year. Premiums are guaranteed for a given period of time, usually 10, 20,30 or even 40 years, depending on the plan selected. At the end of that period, the policy either renews at a higher premium for the next payment period or it terminates. Most term plans can be switched to permanent protection to cover your long-term needs.
Choose the right plan for you
We offer variety of plans to meet your unique needs and financial obligations, including 10-year term, which offers coverage at the lowest initial cost with premiums renewing every 10 years to age 85
20-year Term is affordable coverage for a longer initial premium payment period with premiums renewing every 20 years to age 85
Pick-a-Term offers the lowest overall cost for a chosen period. You can choose the term from 10-year to 40 year based on your situation
Customizing a plan just for you
With Term insurance, you can customize your plan with optional benefits to meet your changing needs. Cover multiple lives on personally-owned policies or make it a family plan by adding Term life insurance on your children. Plus, preferred underwriting rewards your good health and lifestyle with better premiums.
Bundling protects your total life and health needs
Bundling term life insurance and critical illness insurance helps protect your total life and health needs in one convenient policy. Critical illness insurance provides funds to help manage personal and medical expenses, so you can focus on recovery.
Unique mortgage protection
When it comes to protecting your mortgage, not all plans are created equal. Is your mortgage insurance protecting you…or your bank? We can help you find the perfect mortgage insurance.
Find out how insuring your mortgage with Term insurance puts your needs first. Mortgage insurance is not mandatory to take from Bank or a Lending institution at the time of availing mortgage.
Why it makes sense?
Anything can happen and when it does, it’s important to be prepared. For the set period of time you choose, Term insurance helps protect you, your family or your business against situations impacting your ability to:
Continue mortgage payments
Replace your income
Fund your children’s education
Maintain your family’s lifestyle
Cover estate taxes, final expenses, or personal loans
Pay business loans or debts
Keep the business running without selling business assets or using personal savings