Term-Life Insurance
What is Term Life Insurance?
Term life insurance provides coverage for a specific period of time, or “term” of years. If the insured person dies within the “term” of the policy and the policy is still in force (active), then the death benefit is paid out to the beneficiary.
This type of insurance typically allows clients to initially purchase more insurance coverage for less money (premium) than other kinds of life insurance. Primerica’s “Buy Term and Invest the Difference” philosophy encourages clients to take this “difference” in premium and invest it for the future.
Do I Need Life Insurance?
If anyone is depending on your income or if you have obligations (debt, mortgage, etc.) that would fall to someone else to handle if you were to die, then the answer is, “Yes.”
Life insurance acts as a substitute for income. Have you ever calculated how much you’ll earn in your lifetime? Typically, over the course of your working years, the answer is usually “a fortune.” The potential risk of losing that earning power – earnings you’ll need to fund your family’s biggest goals like buying a home, paying for your kids’ education, reducing debt, saving for retirement, etc. – especially at the early or mid-point of those years, is what makes life insurance a necessity for most people.
The Primerica Difference
With the latest technology and underwriting process, we can offer clients an easier, straightforward and convenient way to purchase term life insurance – all with the personal support of our licensed Primerica representatives.
- Advanced technology can provide an underwriting decision with actual rates in real-time in many cases.
- Policies are written in plain language, so terms and conditions are easy to understand.
- Faster processing of applications.
- Receive personalized service from a licensed Primerica representative in the local area.
A local representative is ready to help you find the best term life insurance product for your unique needs.
Primerica Term Life Insurance Offers Affordable Protection
You need term life insurance. A common misconception about life insurance is that it is a permanent need for each family. Many financial experts see life insurance as a tool to “buy time” until you accumulate savings – and not as a permanent fixture of your financial life. Term life insurance is generally much more affordable in the initial years to provide the right amount of coverage you really need for your family.
Primerica Life Insurance
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Group Insurance Through Work May Not Be Enough
Many employers carry a group life insurance policy for their employees. If that’s the case for you, is it really necessary to own an individual policy?
Group insurance can play a role in protecting your family, financially, but it’s only a small part of that protection. Group insurance typically only covers one to two years’ salary, is owned by your employer and usually only covers you while you remain employed. If you leave that job or get laid off, your employer-sponsored coverage ends. With a Primerica term life insurance policy, you’re covered until age 95 and your policy remains in effect as long as you keep your premiums current.
How Much Life Insurance Do You Need?
If your family is like most, the answer to that question is probably more than you currently have. Ten times your annual salary is a good rule of thumb. Your Primerica representative can help you determine how much life insurance you need, and many other questions you might have about your household finances, with a Financial Needs Analysis (FNA)
When Should You Purchase Life Insurance?
Many people put off purchasing life insurance, even though it’s designed to protect their loved ones’ well-being. One reason is that thinking about death is uncomfortable—it’s difficult to consider what might happen to those who depend on us. Others mistakenly believe there’s no urgency, assuming they can always take care of it later. However, the truth is that none of us knows what tomorrow will bring.
Primerica Serves Families Just Like Yours
Approximately 5.7 million lives are insured through our life companies – Primerica Life Insurance Company, Primerica Life Insurance Company of Canada, and National Benefit Life Insurance Company. We have $944 billion of term life insurance in force and pay out an average of $5.1 million in benefit claims every day. Primerica’s life companies are among the few that offer 35-year term policies.
Dave Ramsey
Dave Ramsey is a world renowned, personal finance expert, radio host, author, and businessman known for his advice on life insurance, investments, debt reduction, budgeting, and financial independence.
Suze Orman
Suze Orman is a personal finance expert, author, and television host known for her straightforward advice on life insurance, managing money, building wealth, and planning for retirement. She gained national recognition through “The Suze Orman Show!”