Term Life Insurance provides protection for a limited period of time, generally 10, 15, 20, or 30 years. If the insured passes away during this period, a predetermined amount will be disbursed to the beneficiary. Although term life policies do not normally accrue cash value, many do offer features that allow you to convert to a permanent policy within a certain amount of time. This feature can be advantageous if choose to buy a permanent life insurance policy but your budget does not allow it right now, or you would like to retain the option of converting to a permanent policy in the future.

Term Life Insurance is the simplest form of life insurance. It provides reasonably priced protection for a specified period of time at a planned premium level. Insurance premiums may go up at the end of the term. With a Term Life Insurance policy you choose a coverage level, a term and name a beneficiary, that is, the person you want to take delivery of the benefit if you die. If you die while your term life insurance policy is in force, the beneficiary you chose with receive the death benefit payment.

Term insurance can help you meet a number of personal and business needs and is often a good choice:

• When life insurance is essential but your budget won’t allow
• For a distinct period of time
• To protect your family (insurance benefits can help put a child through school or pay a mortgage)
• To protect your business (by helping to cover business expenses insurance benefits can ensure business continuance)

You can renew your coverage, often at a higher premium, at the end of the term without having to make available evidence of good health. You can also choose to convert your term life insurance policy to a permanent life insurance policy which builds cash value and may even earn dividends.

Is Term Life Insurance right for you?

When searching for a term life insurance policy, it is best to consult with an experienced insurance agent. At Texas Insurance Agency, our goal is to provide you with the most accurate information on insurance policies and connect you with the best policy match. Call Texas Insurance Agency at (281) 398-1010 today and an experienced insurance agent will be there to help.