Term Life Insurance
Term life insurance provides life insurance for a specified period of time, such as 1, 5, 10, 20 or 30 years. These policies provide benefits in the event of a death, but unlike other insurance options, they do not generate cash value. If you are seeking low-premium payments and only need insurance for a finite period of time, term insurance may be a better choice than buying permanent insurance.
Advantages of Term Life Insurance:
- Lower initial cost in contrast to permanent insurance
- May enable you to buy more insurance than if you opted for permanent insurance
- Some policies allow you to upgrade to permanent insurance later in life
- Ideal for covering specific debts, mortgages, college tuition and/or a loan
- Death benefits are typically federal income tax free
- Guaranteed* coverage until the policy expires provided premiums are paid
- Return of Premium (ROP) solutions available
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Advice focused on you
For help in deciding what type of insurance best meets your goals and objectives, our Financial Advisors have the know-how to help you navigate the world of insurance. Call us today at 800-392-3009 to schedule an appointment with a Financial Advisor or visit a People's United branch and ask to see one of our life insurance licensed employees.