Term life insurance is the most basic form of life insurance. It provides coverage for a specified period of time (e.g. 1, 5, 10, 15, 20, 25, or 30 years) in exchange for a specified premium. If the death of the insured individual occurs within this period of time or term period, the insurance company will pay the death benefit. If the term period expires while the insured individual is still living, the policy terminates and no death benefit will be paid.
The two main types of term life insurance policies are level premium term life insurance and yearly renewable term life insurance.
No medical exam term life insurance is a product that utilizes a simplified underwriting process and streamlined application process. The process can be completed online through our web site if you qualify. No medical exam is required, just an online health review. Coverage amounts are limited to $500,000 or less, depending on the insured’s age.