term life insuranceWould someone important to you struggle financially if you were no longer around to help support them?

If you’re married, have children, expect to get married someday, have relatives or friends who are dependent on you, or have a mortgage that couldn’t be paid if you are gone, then you need life insurance.

The most affordable way to do that generally is with term life insurance which provides a guaranteed level of premium for a specified time, generally 10, 20 or 30 years. Your premium is based on how old you are when you buy it. The younger and healthier you are, the lower your premiums.

We sell three types of term insurance, each designed to meet specific needs:

  • Minimal Underwriting Term Life offers affordable life insurance with premiums and coverage that remain fixed for the entire term of the insurance.  The face amount of these policies cannot exceed $150,000.  There is no medical exam required for these policies, however we do run prescription records and your MVR.  The insurance can be renewed at expiration, but premiums will generally increase at that time.
  • Level Term Life also offers affordable life insurance with premiums and coverage that remain fixed for the entire term of the insurance. Level Term offers higher face amounts than Minimally Underwritten Term and has a variety of riders (at additional cost) to meet individual needs.  The face amount starts at $150,000 and can go as high as justified.
  • Decreasing Term Life has a decreasing death benefit designed to follow the declining balance of a loan, such as a mortgage. The death benefit remains level once it reaches 20 percent of the initial face amount.

Term insurance often costs less than you might think. It’s an affordable way to help secure your family’s financial future without having to worry about premiums increasing over time.

 

Mike Schmisek

mschmisek@farmersagent.com

303-922-1001