Term Insurance

Term insurance is the most popular kind of insurance available. It is just that, insurance that pays out a benefit when you pass away. No cash values which accumulate, the premiums are set for a specific period of time and if you die during that period a payment is made by the insurance company. If you live passed the specified time then you walk away without anything but having had the peace of mind knowing that had you not lived your loved ones would have received a payment from the insurance company.


Recently, some new twists have been made to the group of insurance called term insurance. The newest twist is a return of premium feature. How this works is if you live beyond the specified period of time then the company will return to you all of the premiums you have paid into the policy. However, if you cancel the policy before certain times there would be little or no refund of monies. You have all of the great features of the protection but at the end of the guarantee time you will receive all of your money back! Not such a bad arrangement is it?

happy senior couple in a cafe

If you listen to the radio or TV you will hear or see ads for term insurance for very low premiums. These premiums are actually correct. Keep in mind however, the prices quoted are for people in the best of health and are for time frames of usually 10 years or less. So in other words your cost and coverage may not always be what is appropriate for your particular situation.


A general rule of thumb to determine how much coverage you need depends largely on you personal situation. Some of these situations are: If you have a large mortgage balance and or other debts which would need to be paid off if you die. If you have young children and you have concerns of making sure they have at least the opportunity to get an education. If you have a spouse who needs to stay at home to raise your children rather than being forced out into the work force and needs to have a guaranteed source of monthly income to stay home. Not wanting to rely totally on the Social Security System to provide the income. These are just a few of the details which everyone has their own personal preference to have which come into play to determine how much coverage is correct. It is because of these and many other factors that come into play that I feel it is very important to have an experienced person help in planning your insurance coverage to do the job you want it to do. Each of our clients receive the personal attention and consideration to assure their coverage is “their coverage” not just a cookie cutter kind of plan.