Our Term Life Insurance Provides Short-Term Coverage for the Duration You Need
Term life insurance is affordable coverage that lasts for only the number of years you select at issue. Once the term is over, your coverage ends. Unlike whole life and universal life insurance, term insurance builds no cash value.
This type of protection can be beneficial if you need coverage for only a specified time – perhaps to cover the payback terms of a student loan or mortgage. Or you may go through periods in your life when money is tight or when you're not quite sure you want permanent life insurance, yet you know you need the coverage. Term may be a viable financial solution.
Explore the Benefits of Simple Choice Term Life Insurance
Our term life insurance policy can be selected to fit your specific needs. You have the option to choose specified term lengths or the ability to convert the policy to permanent insurance when you're ready.
Fixed Premiums: same amount owed every time payment is due
Level Death Benefit: remains the same throughout the policy's entire lifetime
Conversion Privileges: ability to change policy to a permanent policy
Specific Time Period: coverage provided for 10, 15, 20 or 30 years
Figuring out how much life insurance to buy depends on your annual income and how long your family will need to rely on this income. You can quickly determine your coverage amount by answering three simple questions. For a more detailed analysis, try our advanced calculator, which takes into consideration your assets, debt, final expenses, childcare and education costs.
Term Life Insurance May Be More Affordable Than You Think
Do you think term life insurance is too expensive? Take a minute or two to learn some important facts about term life so you can decide how best to provide for all of your family’s needs.
Term Life Insurance
80% of consumers who believe they need life insurance haven’t bought it because they think it is too expensive. (Life Happens, April 2015)
80 percent of consumers misjudge the price for term life insurance, with Millennials overestimating the cost by 213%, and Gen Xers overestimating the cost by 119%. (Life Happens 2015)
In 2016, there was a significant decline in life insurance coverage adequacy for U.S. households. In 2010, those insured had coverage to replace their income for 3.5 years. Today that has dropped to 3 years, which is far lower than most industry recommendations. (Limra Facts 2016)
The average insured adult has 3.6 times his or her annual income for life insurance coverage, or $166,600. Salary: $46,333, Life Insurance: $166,800. (How much life insurance do you need? By Barbara Marquand Posted : September 12, 2017. Insurance.com 2017)
But is it enough to provide for all of your family needs?
As a general rule of thumb, it is recommended that you have 8-10 times your salary in life insurance. However, this may be too much, or not enough. Everyone’s personal needs are different. We can help you determine how much is right for you. Talk to us today.
Annual Renewable Convertible Term Policy Series 0701-306 WSA issued by Western-Southern Life Assurance Company. Renewable and Convertible Term Policy Series 0701-307 WSA and 0701-307-U WSA issued by Western-Southern Life Assurance Company. Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY and RI. VID117 1711
Take the Next Step to Help Ensure Your Peace of Mind
When you’re looking for affordable short-term insurance options, you want term life insurance from a company with a history of financial strength. With our financial ratings and a heritage of financial strength, Western & Southern has become one of the strongest life insurance groups, offering you stability you can count on. We have knowledgeable financial representatives available to help you with your term life insurance needs.
Renewable and Convertible Term Policy ICC18 1801-307 WSA issued by Western-Southern Life Assurance Company, Cincinnati, Ohio, which operates in DC and all states except AK, NH, NY and RI.
These policies and benefits may not be available in all states, and benefits may vary by state.
Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by, the issuing company. Guarantees are based on the claims-paying ability of the issuer. Products are backed by the full financial strength of the issuing company.
Life insurance policies contain certain exclusions, limitations, reductions of benefits and terms for keeping them in force. Please contact a financial representative for complete details.
Life insurance products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity, have no bank guarantee, and may lose value.
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