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What is Term Life Insurance?

Term life insurance can be complicated, and we will be with you every step of the way in answering the age-old question of "What is term life insurance?" A term life insurance policy covers the policyholder for a specific amount of time, which is known as the term. The term lengths vary according to what the individual chooses. Terms typically range from 10 to 30 years and increase in 5-year increments, providing level term life insurance. Among the most popular life insurance products available, term life insurance policies tend to be more affordable. They typically provide an amount of coverage for much less than permanent types of life insurance. Speak to an agent toady about a term life insurance policy that's right for your situation, and get your personalized term life insurance quote. Term life.

How Does Term Life Insurance Work?

Depending on the type of policy, term life insurance can offer fixed premiums for the entire term or life insurance on level terms. The death benefits can be fixed as well. Because it's affordable and the payments can stay the same, term life insurance policies are popular with young people just starting out, families and people who want protection for a specific period of time. For example, someone who wants to protect an income until retirement or while paying off a home mortgage. Before you get a term life insurance quote or buy a term life insurance policy, try our online term life insurance calculator to see what options for coverage and term length is right for you.

Term life insurance doesn't accrue cash value like several other types of life insurance, but with many term policies, beneficiaries do receive the full face amount. For example, if a policy's face amount is $100,000, the beneficiary receives the full amount, pure and simple. Even better, the benefits paid by on a term life insurance policy are tax free, according to current tax laws.

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There are several types of term life insurance policies available through AIG Direct, including level, renewable and convertible. Get your free, no obligation, term life insurance quote today.

© 2018 AIG Direct Insurance Services, Inc. Agency services provided by AIG Direct Insurance Services, Inc. ("AIG Direct"), CA license # 0B57619 and AR license # 0100105378, a subsidiary of American General Life Insurance Company ("AGL"), Houston, TX and an affiliate of The United States Life Insurance Company in the City of New York ("US Life"), New York, NY, all members of American International Group ("AIG"). Each issuing insurance company is responsible for financial obligations of their respective insurance. Guarantees are backed by the claims-paying ability of the issuing insurance company. Products may not be available in all states and product features may vary by state. For all companies mentioned, their financial professionals and other representatives are not authorized to give legal, tax or accounting advice. For advice concerning your individual circumstances, consult a professional attorney, tax advisor or accountant.

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