Life Insurance can do some pretty amazing things. It can buy loved ones time to grieve and pay off debts. It can keep families in their homes and prefund a child’s college education, but there is one catch…………. You need to own it!!
- Term life insurance provides you protection for a specific price over a specified period of time: usually 10, 15, 20, or 30 years.
- Coverage expires without value at the end of the term.
- To continue with coverage you will need to either convert your policy to a permanent life insurance plan or purchase a new policy.
- Term life insurance pays out a specified lump sum to a beneficiary only in the event that you die before the policy expires.
- Term life insurance is less expensive than permanent live insurance due to the drawback of having an expiration date.
Different types of term life insurance are available for you. Let us modify a plan to fit your needs. We can provide you the maximum amount of protection for the least amount of premium.
- Annual Renewable Term: The death benefit is a level amount and will remain the same for the term period. This policy can automatically be renewed. And you don’t have to provide evidence of good health each year. The premiums may however increase each year with age.
- Level Term: The death benefit is a level amount and will remain the same for the term period. Level term policies are usually purchased for a period of 10, 20, or 30 years. The premium generally remains stable over the entire period.
- Decreasing Term: The premiums remain level over a specific term. However, the amount of death benefit protection decreases throughout the term. Decreasing term insurance is best for you if you have a loan that decreases over time such as a mortgage or a loan.
Contact our insurance professionals today to see if term life insurance is right for you.
Ask us about the optional Return of Premium Term policy!
30 Year Term Life Insurance with Fixed (Guaranteed) Monthly Premiums*
Non Tobacco Tobacco
25 35 45 50 25 35 45 50
$100,000 18 16 31 83 28 42 88 123
$150,000 23 22 22 121 41 59 138 184
$200,000 27 28 58 156 52 77 169 244
$250,000 26 27 68 166 59 83 198 290
$300,000 29 30 76 186 72 98 235 332
$400,000 36 39 91 247 92 125 305 461
$500,000 42 46 110 302 110 155 386 580
$750,000 62 66 162 449 164 221 534 871
$1,000,000 78 86 203 580 214 291 728 1,140
Higher Limits Available
*Monthly mortgage protection premium amounts are estimated. The quotes above are the average monthly premium taken from over 30 (A and A+ rated) life insurance companies we represent. Annual premiums are available. Some applicants may need a minor medical exam to qualify for coverage. The exam can be completed in your home by a nurse appointed by and paid for by the insurance company. The first monthly premium is collected after the policy is issued. It takes 30 to 45 days for the application to go through underwriting before the policy is issued.
Contact one of our Mortgage Protection Insurance Agents today!
Select Source Insurance 481 S Pine St Spartanburg SC 29302