Term Life Insurance
Life Happens. Be Ready.
Term
Life insurance is a critical tool to protect your family and financial future. While everyone will eventually pass away, life insurance ensures your loved ones are financially supported when the inevitable occurs. Two of the main types of life insurance are term life and whole life insurance. Understanding the differences between them will help you choose the coverage that best fits your needs and goals.
What Is Term Life Insurance?
Term life insurance provides coverage for a specific period of time, such as 10, 20, or 30 years. If the insured passes away within that term, the policy pays a death benefit to the designated beneficiary, either as a lump sum or structured annuity.
How Term Life Works:
Term life insurance is temporary coverage. Premiums are calculated based on statistical risk factors such as age, health, lifestyle, and occupation. Because it only provides coverage for a fixed period, initial premiums are usually lower than permanent life insurance.
Best for: Families or individuals seeking affordable protection during key life stages — such as paying off a mortgage or raising children.
*Offered by some carriers and only by qualification determined by age, gender and health.Key Features:
Level Term: Death benefit remains constant throughout the term.
Decreasing Term: Death benefit reduces over time, often aligned with a mortgage or loan balance.
Convertible: Many term policies can be converted to permanent insurance (like whole life) without a medical exam, though permanent policies are typically more expensive.
Renewable: Some term policies allow renewal after the term ends, usually at higher premiums based on age and health.
Return of Premium (ROP): Certain policies may return premiums if the insured outlives the term, though these are more costly.
Our Promise
At Evergreen Wealth & Co., we make life insurance simple, transparent, and personal — helping you find the perfect balance between protection today and peace of mind for tomorrow.
Contact us
Let us know if you have any questions or are wanting to see how our strategies can help you secure your financial future!
Info@evergreenwealthandco.com