What is Term Life Insurance? Term life insurance is a straightforward insurance policy designed to provide your beneficiaries with financial security if you pass away during the term of the policy. It's set for a specific period, such as 10, 20, or 30 years, making it an affordable and simple choice for many looking to protect their family’s future.

How Does Term Life Insurance Work? You pay premiums for the duration of the term you select. If you pass away during this time, your beneficiaries receive the death benefit. If you outlive your policy, it expires, and there are no death benefits unless you renew or convert your policy.

What Happens at the End of the Term? At the end of the term, the policy simply expires. You can choose to renew it or possibly convert it into a whole life policy, depending on your needs and the options provided by your insurer. Some insurers offer a return-of-premium policy that refunds the premiums paid if you outlive the term, though these policies generally cost more.

Term vs. Whole Life Insurance: Which is Better? The choice between term and whole life insurance depends on your financial goals and needs:

• Term Life Insurance is often more affordable and suitable if you are looking for protection over a specific period. It’s ideal if you want to ensure that your family can cover expenses like mortgages or education should something happen to you.

• Whole Life Insurance offers lifelong coverage and includes an investment component, which can grow cash value. This type of policy is better suited for those looking to use life insurance as part of their estate planning or retirement strategy.

Do You Need a Medical Exam for Term Life Insurance? While some term life insurance policies require a medical exam to assess your health and set premium rates, others may offer coverage with no medical exam, asking only a few health-related questions. Policies without a medical exam might be more expensive, as they pose a higher risk to the insurer.

Benefits of Consulting an Independent Agent Working with an independent insurance agent like TWFG Landeche Insurance allows you to explore a variety of term life insurance options to find the best fit for your goals and circumstances. Whether you need a policy with or without a medical exam, our agents can help tailor the right plan for you.

Interested in Term Life Insurance? If you’re considering term life insurance, contact TWFG Landeche Insurance at (504) 228-7184 today. We offer the ability to quote and apply online, making it easy to secure the coverage you need. Protect your family’s future with the right term life insurance policy.