WHY PURCHASE TERM LIFE INSURANCE?
Term life insurance is typically the most affordable life insurance product available to you. With its lower premium rates compared to permanent life insurance, term life is a great way to protect your family’s financial future from the loss of a breadwinner. As a result, many people make term life their first life insurance purchase.
WHAT IS TERM LIFE INSURANCE?
Term life insurance is a life insurance that provides financial coverage for a specific period of time, which is called a term. If the worst should happen and you pass away during the term of your policy, Transamerica will pay out the full amount of your insurance coverage, know as a death benefit, in either a lump-sum payment or monthly payout.
TERM LIFE OPTIONS WITH TRANSAMERICA
At Transamerica, you have the choice of several flexible term life insurance policies. Transamerica term life policies offer term periods ranging from 10 to 30 years separated by five-year increments and can provide your family with financial protection anywhere from $25,000 up to $1,000,000. Most of our policies require a medical exam, but if a person is under a certain age and coverage amount, they can get term life insurance without a medical exam - based on health questions on the application. These are our core product offerings and each can be set for 10, 15, 20, 25 or 30-year terms: Trendsetter® Super Series1 Trendsetter® LB (Living Benefits)2