Term Life Insurance Policies

Term Life Insurance is typically the most affordable type of life insurance available. It is designed to meet temporary needs, providing coverage for a pre-defined period of time (the term).

For example, you can purchase a term of 10, 20, or 30 years. The premiums are typically fixed and remain unchanged for the duration of the term.

Term life insurance has no cash value. At the end of the policy term, you have the option to continue the policy, but the premium will increase significantly.

And most term policies include an option to convert to a permanent policy without showing proof of good health.

Gallen Insurance offers a quick, no-exam, term life insurance program.

Advantages

• Lower costs in early years
• Coverage customized to last for a specific number of years
• Option to convert to permanent coverage later without proof of good health

Disadvantages

• Higher costs in later years
• No cash value
• Premium paid every year for coverage to remain in force

Please see our Life Insurance page for details.