12749 W. Hillsborough Ave Suite A, Tampa, FL 33635
Term Life Insurance Explained
Term Life Insurance is defined as insurance protection in the event of death for the person insured if they pass during that particular time limit stated in the policy details. That time can be 10,20,or 30 years.
For example: Bob is 25 years old and purchases a $100,000 term life policy that provides coverage for a 20 year time frame. If Bob dies at the age of 30 the death benefit would pay out $100,000 to his beneficiary assuming Bob has been paying his policy premiums to keep the policy active.
There will be no death benefit paid if Bob dies after the 20 year term limit has expired.
There are many types of term life insurance such as Annual Renewable, Level Term and even Decreasing Term.
Please call our office for a more detailed explanation of the differences in these types of term life insurance and how they can be used to your benefit. 813-886-4446
Term Life Insurance