Term life insurance is the most cost-effective and simplest form of life insurance. It offers the consumers with the best alternative to meet short-term economic security needs of their family and dependents, making it an ideal solution to get the financial protection they need.
Term life insurance is renewable after 5, 10, or 20 years without showing proof of health. It offers the insured the protection for the beneficiaries in the event of a premature death, in which the beneficiary will receive the amount of the policy, tax free.
Although a term insurance has a low premium in the early years, as you grow older the premium rates will increase and can be very expensive. You can purchase a term insurance as an initial step before you convert to a permanent life insurance.
Who Should Get a Term Life Insurance?
Term insurance policies are a popular choice for:
- individuals who seek for affordable and flexible life insurance,
- small and medium-sized business owners who incurred debts or significant start-up costs,
- entrepreneurs with complex needs such as buy/sell agreements or key person protection
- people with temporary debts like mortgages or private loans.
Four Easy Steps to Get Started with Your Term Life Insurance
- Send us a quote request HERE or call Synergy Life Financial at (705) 434-0562 or for our toll free number at (866) 274-1595. You can alsoprint and fax your request to (866) 274-1751. Our certified financial advisor will conduct a short and simple interview to obtain some of your background and medical history.
- A nurse will call to book routine free para-medical tests at your most convenient time and place.
- A copy of your term life insurance will be sent to you, along with final information about your policy.
Start securing the financial future of your family and dependents, contact Synergy Life Financial today!
3 Important Facts about Term Life Insurance
- Compare to permanent life insurance, term life insurance offers the lowest premium. There are different types of term life insurance such as: yearly renewable term life insurance, return of premium term,group term life insurance offered by employer, and level term that comes with level premiums for a certain period of time defined in the policy.
- Term insurance policies don’t have a savings element. So every premium is a cost to the insured similar to the premium for homeowner’s insurance.
- Term insurance can be converted to cash value life insurance with premium guarantees.
To learn more about term life insurance and obtain a free quote, contact us now!