USAlliance Term Life Insurance Overview
What is Term Life Insurance?
Term life insurance provides coverage for a certain period of time to help financially protect the people you love. If death occurs during the term, your beneficiaries receive a lump sum payment for the face amount of the policy.
You choose the length of the term when you buy the policy. USAlliance offers terms of 10, 15, 20, 25, and 30 years. With our policies, the death benefit and the premium stay the same throughout the term.
When you shop for term life:
- Choose a term that will meet your financial needs.
- Choose an amount that will protect your family if you could no longer provide for them. Replace your income and help your family.
- The cost of a term policy is based on your age, so the younger you are, the cheaper the premium. Don’t wait, purchase coverage today!
- The death benefit the beneficiary receives is tax free under current law.
Term insurance is designed to meet temporary needs. It provides protection for a specific period of time and only pays a benefit if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a later time. For instance, you may decide that you only need coverage until a child graduates or a particular debt is paid off, such as your mortgage. You can even get coverage for your business’s key employees or as part of a Buy/Sell agreement.
Pick a term length so that the term life policy expires when your need for life insurance will end. Always remember, the best way to determine the amount and type of life insurance that makes sense for you is to talk with us. Our team is ready to help.
USAlliance Offers Two Types of Term Coverage:
Solid Term™ policies offer coverage from $50,000 to $250,000 for people aged 18 to 65 without the need for a medical exam. No doctors, needles, or invasive exams. This policy offers 10, 15, 20, or 30 years of coverage depending on your age at the time the policy is issued.
Sound Term™ policies offer coverage beginning at $100,000. This policy requires a medical exam that we arrange and schedule when it fits your schedule. The medical exam and rate classes offer you the most competitive rate. This policy offers 15, 20, 25, or 30 years of coverage depending on your age at issue.
Easy Application Process.
The application process is simple and easy. Once an application is submitted, our underwriters will evaluate your information and schedule a medical exam if required. Once all underwriting is complete, our team will let you know the results and decision on your life insurance application.
You Choose a Term Length
The best guideline is to purchase as much coverage as you can afford for the longest period of time you can get. One of the biggest questions to ask yourself is, “How long do I need coverage?” If you have children, a popular rule of thumb is to choose a term long enough to see them out of the house and through their formal education. It usually pays to purchase a longer-term policy than a shorter one, because you never know what the future may bring and it generally is easier to get insurance when we are younger and in good health. We never know when a condition may come up that will make us uninsurable.
You can always stop paying and let the policy lapse if you no longer need the coverage, but a longer term protects you if a medical condition develops that affects your insurability.
Name Your Beneficiaries
As the owner of your policy, you decide who receives the death benefit upon your death. You may have several beneficiaries if you wish. While beneficiaries are typically family members, they don’t have to be. You could choose to leave some or all of your benefits to a trust, a charitable organization, or even a friend.
Getting Set Up is Simple and Affordable
Apply in minutes. You’ll be surprised just how affordable and comprehensive USAlliance insurance really is. We can help. Learn how.