Term life insurance provides protection for your wealth and your financial objectives. When you purchase this insurance policy, you are insured for a defined amount of coverage, at a fixed premium, over a specific period of time (10, 15, 20, or 30 years). Term life insurance generally offers lower premiums than permanent life, and is ideal for periods of increased risk and exposure. If the conditions of your policy are met, your beneficiaries receive a lump sum equal to the amount of coverage you purchased.

Some examples that proceeds can be used for are:

• Paying off a mortgage
• Replacing your income during child-rearing years
• You may be able to continue coverage after the original period selected, but at an annually increasing premium