Term life insurance provides coverage for a stated period of time. Term life is the simplest form of life insurance and was developed to provide temporary life insurance on a limited budget. This coverage is perfect for short-term goals, such as paying off your college education, funeral costs or mortgages. The most common terms are 10, 15, 20, and 30 years.

Term life gives you the flexibility to change your policy should your temporary needs turn into permanent goals. You can convert all or some of your term coverage into a permanent policy for a lifetime of coverage.

What’s the difference between Term and Whole Life?

 

Term Life Whole Life
  • “Temporary” life insurance
  • Provides protection for a specified period of time (10, 15, 20, 30 years)
  • Does not build cash value
  • Coverage ends when the policy expires
  • Premiums may increase with age
  • Good for short-term insurance needs
 

  • “Permanent” life insurance
  • Provides protection for your entire life, as long as the policy is in place
  • Accumulates cash value which can be accessed at any time through policy loans
  • Premiums are set at a certain amount and do not change
  • Premiums are typically higher than term life premiums

 

Testimonial

"I am a sales professional / manager and always emphasize to the people I train the importance of quick and personable service. I left my last insurance company because they were bought out and the new service was horrible. I've always used a brokerage services because I want to see options and from the moment I contacted Tony & Roya at Neckerman I was certain my search was over. They are a great team, attentive, responsive and professional. I was able to feed in all my info online quick and easy. Inside of a day of shopping my bundled policy needs around I received a numerous competitive options and was able to make the switch immediately. Unfortunately for me we've had to file a few claims and both times they've walked me through the process, again everything was submitted online, quick and easy with great follow up. Very happy with the move, not only will I be staying but I will be referring my clients and customers Neckerman's way as well."

- Dan B.