Term Insurance is the simplest form of Life Insurance: you pay a premium for a set number of years (the term). A cash benefit is only paid out upon your death. A Term Life Insurance policy is a good way to get a higher death benefit for a lower premium as opposed to other Life Insurance products.
Term Life generally provides the most coverage for your insurance dollar. What's more, several of the plans are renewable or even convertible to permanent forms of coverage that lock in your premium cost over the life of the policy.Term benefits:
- Lower premiums
- Higher death benefit
- Convertible once term ends
**Life insurance issued by Farmers New World Life Insurance Company®, Mercer Island, WA 98040. Products and features are not available in all states and may vary by state. This site is for informational purposes only. You should consult your attorney, accountant or tax adviser for specific legal or tax advice.**
