Life Insurance
Term Life Insurance
Term life insurance covers you for a set period — commonly 10, 20, or 30 years. It is designed for needs that have an end date, like a mortgage or raising children.
How it works
You choose a coverage amount and a term. If you pass away during that term, your beneficiaries receive the benefit. When the term ends, coverage ends unless it is renewed or converted.
Because it covers a defined window rather than a lifetime, term coverage usually costs less up front than permanent coverage for the same amount.
Many term policies include renewal and conversion options. Understanding those before you buy matters more than most people realise.
Things to consider
Choosing the term
Line up the term with your longest major obligation — often when the mortgage is paid off or the youngest child is independent.
Renewal
Renewing at the end of a term is typically much more expensive. Plan the length carefully up front.
Conversion
A conversion option may let you switch to permanent coverage later. Ask how it works on any policy.
Laddering
Some families combine policies of different lengths so coverage steps down as needs shrink.
Frequently Asked Questions
What happens when my term ends?
Coverage ends unless you renew or convert it. Renewal premiums are usually higher, so choosing the right term length up front is important.
Can I convert term to permanent?
Many term policies include a conversion option within a set window. Terms vary by policy and should be reviewed with an advisor.
Other types of life insurance
Whole Life Insurance
Lifelong coverage with fixed premiums and guaranteed cash value.
Participating Whole Life Insurance
Whole life coverage that may pay dividends.
Universal Life Insurance
Permanent coverage with flexible premiums and an investment component.
No-Medical & Guaranteed Issue Life Insurance
Simplified coverage without a medical exam.
Mortgage Life Insurance
Coverage built around paying off your home.
Joint Life Insurance
One policy covering two people.
This page provides general educational information only and is not personal financial advice. Coverage availability and terms depend on the insurer and your individual circumstances.
Protecting Your Future Starts With Understanding What You Need.
Have a free, no-obligation conversation with a licensed advisor — get your questions answered before you decide anything.