Term Life Insurance

Term Life InsuranceLapointe Insurance is proud to be an agency partner with several national carriers, including Hartford Life, providing the best protection for individuals, families and businesses of every size.

What is Term Life Insurance?
Term life insurance is basic life insurance coverage that provides protection for a specific period of time (“term”). It is a suitable life insurance product if you need short-term death benefit protection and have temporary financial obligations, such as mortgage payments, car payments, or short-term debts. Coverage provides lower premiums for people who cannot afford permanent life insurance premiums. Should you decide you want permanent life insurance, you can convert your policy later on (within certain parameters).

Death Benefit

Provides level death benefits that becomes payable only if the insured dies during the term of the policy; it is not guaranteed for the insured’s lifetime.

Lower Premiums

Generally a way to afford life insurance coverage at less expensive premiums than other types of life insurance because it allows you to purchase higher levels of coverage at a younger age, when your protection need is greatest. However, term premiums may increase with age.

Tax Advantage

Upon the death of the insured, the death benefit of a term insurance policy generally passes federal income tax-free? to the policy’s beneficiary.

Guaranteed Level Premium Payments

Level premiums are guaranteed for a pre-determined period of time. You can specify the frequency, often a choice of annual, semiannual, quarterly, or monthly.

Renewal and Conversion Options

Annual renewal at increasing term rates at the end of the original contract period. Some term policies can be converted to permanent insurance (within certain parameters).

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