What is Term Life insurance ?
Term life insurance provides coverage for a specified period of time at a fixed rate of payments.
There are several types of term life insurance policies available, each with different features and benefits. Some common types of term life insurance include
- Level Term Life Insurance: Offers a fixed death benefit and premium payment for a specific term, typically 10, 15, 20, or 30 years.
- Decreasing Term Life Insurance: Offers a death benefit that decreases over time, typically used to cover a specific debt that decreases over time, such as a mortgage.
- Renewable Term Life Insurance: Allows policyholders to renew their coverage at the end of the term without undergoing a new medical exam
- Convertible Term Life Insurance: Allows policyholders to convert their term life insurance policy to a permanent life insurance policy without undergoing a new medical exam
- Return of Premium Term Life Insurance: Offers a refund of the premium payments made if the policyholder outlives the term of the policy.
- Group Term Life Insurance: Offered through an employer or organization and provides coverage for a group of individuals.
What does it cover ?
Death Benefit for Beneficiarieserm life insurance provides a death benefit to the beneficiaries of the policyholder in the event of their unexpected death during the term of the policy.
Financial Protection and Support for Loved OnesTerm life insurance offers financial protection and support to loved ones in case of the policyholder's unexpected death during the term of the policy.
Designation of BeneficiariesBeneficiaries of term life insurance policies are designated by the policyholder.
Specific Policy TermTerm life insurance policies are valid for a specific period of time, typically 10, 20, or 30 years
Payment of PremiumsPolicyholders of term life insurance pay regular premiums during the term of the policy in exchange for the death benefit.
Why Do You Need It ?
We need whole life insurance for lifelong financial protection and to build cash value over time
What sets MIEGI apart:
- Hands on knowledge with over 20 years of experience.
- Licensed with multiple carriers to ensure the best coverage at the best prices.
- Dedicated team committed to providing excellent and ongoing customer service.
- Personalized and customized affordable solutions.
- Outstanding customer satisfaction with 5 stars on google reviews .
- Simplified process incorporates cutting-edge technologies.
- Offices in multiple locations.