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Term Life

What is Term Life Insurance?

Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time. If the insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar. Contact us for more information about Term Life Insurance and to learn more about all of the options that are available.

Term Life Insurance Nevada

Do I need Term Life Insurance?

Term insurance is usually the most cost effective type of life insurance. The reason for this is that the coverage only lasts for a specified period of time depending on the policy. For example, a 20 year level term will cover the insured for the selected face amount for the 20 year term of the policy. If the 20 year term policy is a level term policy all elements of the policy will stay the same for the entire 20 years, including the premium. A term life insurance policy is best suited for families and entities that need to cover a loss of income or to pay off debt such as a young family or start-up company. There are many different riders or additional services that can be combined with a term policy; one is a return of premium rider at the end of the term of the policy.

In addition to level term policies there are also two other types of term polices available to consumers. The first of the two is called Annual Decreasing Term. This type of term policy is even more affordable than a level term policy, but the face amount or death benefit continues to reduce throughout the polices term. The second is an Annual Renewable Term policy. This type of policy keeps the same face amount of coverage but the cost continues to increase throughout the term of the policy. Contact Nevada Life Services for more information about Term Life Insurance.

Contact: 702-340-3939

“Providing income replacement, asset protection, and financial security.”