Term Life Insurance

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 and you will need to either convert your policy to a permanent life insurance plan or purchase a new policy for a new term. 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 somewhat 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 and 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 without having 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 and the premium generally remains stable over the entire period.
  • Decreasing Term – The premiums remain level over a specific term, but the amount of death benefit protection decreases throughout the term. Decreasing term insurance is best for you if you have financial obligations that decrease over time such as a mortgage or a loan.

Contact our insurance professionals today to see if term life insurance is right for you.

Click here for a free term life insurance quote

Leave a Comment





Contact Us

Hektner-Lybeck-Erickson Insurance
3345 39th Street South
Fargo, ND 58104

Fargo:
 (701) 293-0011

Buffalo: (701) 633-5122

Jeff Lang
Jeff@hleinsurance.com

Paul Lybeck
Paul@hleinsurance.com

Harold Mattingly
Harold@hleinsurance.com

Dan VanEngelenhoven
Dan@hleinsurance.com

Bryce Olson 
Bryce@hleinsurance.com

SEND US A MESSAGE

Non-Discrimination Statement
The U.S. Department of Agriculture (USDA) prohibits discrimination against its customers, employees, and applicants for employment on the bases of race, color, national origin, age, disability, sex, gender identity, religion, reprisal, and where applicable, political beliefs, marital status, familial or parental status, sexual orientation, or all or part of an individual's income is derived from any public assistance program, or protected genetic information in employment or in any program or activity conducted or funded by the Department. (Not all prohibited bases will apply to all programs and/or employment activities.)