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Term Life

You have a growing family — and the financial obligations that come with it. Let’s say you have a house with a 30-year mortgage, a 48-month auto loan and a college fund you’ll start using in 10 years. In a circumstance like this, a term policy might be an economical way to carry a large amount of life insurance.

Term life insurance offers level premiums for a specific period of time — generally 10, 20, or 30 years. The initial level premium tends to be lower than comparable permanent coverage. And proceeds may help your family financially if the unexpected happens when they still have major expenses.

Generally, the shorter the term, the less expensive term coverage can be. While premiums remain level for the term period, they will rise if you decide to continue the coverage beyond the level premium period.

Rodriguez Insurance Agency offers two types of term life policies. Here’s how each may help you address your financial priorities:

You want convenient coverage

Challenge:

Your family’s needs are growing and so is your career. You want life insurance that helps you with financial obligations — but it needs to be quick, easy and convenient.

 

Consider:

Term life insurance has an automated underwriting process. In most cases, medical exams or lab tests are not required3, and you may get a decision in as little as one business day.

Here are some features of Simple Term:

  • Coverage issued between the ages of 18 and 65 years

  • 10-, 20- and 30-year level premium periods with coverage starting at $75,000

  • A guaranteed death benefit4 that is generally income tax-free5

  • Guaranteed level premiums for the initial term period

  • Convertible (within certain limits and regardless of health).