Term Insurance

Temporary coverage that helps you breathe easier

WHAT IS IT?
Term insurance is life insurance that provides coverage for a specified period of time. If you die during this period, the benefit is paid out in a lump sum. Term insurance is usually issued for 10, 20, or 100 years, and will usually renew itself unless you cancel it. With each renewal, however, there can be an increase in premium costs. If you choose not to renew your policy, your coverage will expire, with no return of premium.

IT DEPENDS ON YOU
Term insurance can be a good choice for several reasons. It can be a cost effective way to secure a business loan or a mortgage, while staying on budget. Also, if you die, you may want it to replace your income or cover last expenses, such as funeral costs and taxes owed.

Everyone should have some amount of life insurance. Whether you wish to make sure loved ones are taken care of, cover debt or mortgage expenses, or enhance current coverage, it's an important financial decision for the security of both you and your dependents. Term insurance may be a better personal fit than permanent insurance because it can easily fit into your lifestyle and budget.

INCORPORATE INTO YOUR FINANCIAL GOALS
There is no savings portion to a term insurance plan. However, the return on investment is the peace of mind you give yourself by ensuring your loved ones will be cared for if you die unexpectedly. In purchasing a life insurance policy, you are giving financial security to your family - after all, they are your most important asset.

Visit your MGI Financial advisor for more information on this and other investment and insurance opportunities.