Frequently Asked Questions

Who buys term life insurance?

Families buy term life insurance for security. If the insured dies, their term life insurance policy provides money to pay for home expenses, college, outstanding loans and other major expenses 
· Small Business Owners use term life insurance as a low cost debt protection to cover notes, lease obligations, business real estate mortgages and other expenses. 
· Business Partnerships use term life insurance to buy out partners in the event of their death. The deceased partner's beneficiary gets the insurance proceeds and the ownership of the company is then transferred to the remaining
· Corporations use term life insurance as stock purchase redemptions. For example, the corporation gets the insurance proceeds and buys back the stock from the deceased's beneficiary, normally the surviving spouse or estate. 
Term life insurance can provide real benefits for the beneficiaries with no negative cash flow impact on the company. What is level term life insurance? Term Life Insurance is insurance "without the frills"; there are no tax deferred savings, cash build up plans or forced savings plans, as with universal or whole life insurance. Level Term life insurance is a fixed term insurance policy that guarantees to pay a specific benefit for a specific time frame. The "term" is the period of time over which you are covered and you choose what that "term" is going to be; it could be 5,10 or even 30 years. Level term means that your premiums will remain the same or "level" during the time or term that you have selected. So if you chose a 15 year level term life insurance policy, your premiums would remain the same for the 15 year period - guaranteed. If cost is the major concern for you, level term life insurance is the best option for you.
Term life is the least expensive and most immediate way to provide a cash pay out to your beneficiaries.


Over the years our customers have asked us particular insurance questions. We have put these altogether to help you make intelligent buying decisions.