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Here at Ostrander Insurance, we encourage our clients to consider term life insurance plans. You should only consider a permanent or whole life policy if you are working with a life insurance expert who can inform and educate you as to why a more expensive permanent plan with investment benefits suit you and your family better than a less expensive term policy. Currently we refer our clients to a local life, health and disability insurance specialist who works exclusively in these fields. Let us know if you would like us to refer you to this knowledgeable specialist.
It’s a simple contract
There is no cash value
It’s subject to a physical examination
Coverage lasts a pre-determined number of years
It has a fixed annual premium
There is a fixed death benefit
It can not be extended without a new physical examination
You might choose a 10 year, 20, 25 or 30 year level term policy with coverage ranging from a low of $100,000 up to $1M. The annual premium would be the same amount each and every year, with the cost based on your average age over the term of the policy. There are preferred, standard and sub-standard rates, not to mention smoker and non-smoker rates. All of this is determined a the time of application. If spouses purchase policies at the same time, a discount is typically allowed.
As to what term length makes the most sense, many policyholders pick a term that matches the length of their mortgage or they might choose a term expires when their youngest child will be a young adult and less likely to be dependent on their financial support.
We have decades of experience to make
sure you get the best possible care.
Call us today to find out
more about life insurance.
We would be happy to offer greater details to you about term life insurance. We can help you take into consideration the particular details of your life and family to decide upon the right combinations. Contact our friendly team today.
Get the term life insurance
you need for peace of mind.