Life & Health

TERM LIFE INSURANCE

More Info & Help

If you're looking for protection during a specific time period at a reasonable price, consider term life insurance.

  • Protection is limited to a specified and finite period of time, usually between one and 20 years.
  • Death benefits are paid only if death occurs during the period covered by the policy.
  • Coverage ceases when premiums are not paid.
  • Policy costs less than other types of insurance, but provides equal protection.
  • It provides the largest immediate coverage per dollar since is last only for a specific period of time.

You may have two additional options available when purchasing term life insurance: renewable and convertible policies.

Renewable Term Life Insurance
Under this type of policy, the holder does not need to provide evidence of insurability to renew the policy. Premiums may increase, however, at time of renewal.

Convertible Term Life Insurance
Convertible term life policies can be exchanged for whole life, universal or variable policies. Policyholders do not need to provide evidence of insurability, but premiums will increase since you are moving from a term to a permanent policy.

Masters Coverage Corporation, a wholly owned subsidiary of Valley National Bank, can provide you with a low cost, comprehensive life insurance policy designed specifically for you. You can request a free, no obligation quote today by calling Masters toll-free at 800-777-6100 or you can fill out the online referral form and one of Masters' insurance specialists will contact you.

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