Term Life Insurance

A Life Insurance for a Short Term

If you are looking for an affordable insurance plan to protect you in the short term, term life insurance is the best option for you. Unlike permanent life insurance, term life insurance could be set for a fixed period of time, usually known as the term but it is more affordable. However, just like permanent life insurance, term life insurance is a wise choice to protect your small business, your families, friends and loved ones. With London Life’s term life insurance, you can purchase more coverage and protect yourself and your family at a low cost. In addition, the premium payment for the term life insurance is locked in. This means that the premium will not change during the duration of the term you selected. London Life provides two basic terms in its coverage, term 10 or term 20 years.

Features and Benefits

London Life’s term life insurance pays the insured’s beneficiaries a lump sum benefit which can be used to pay for funeral expenses and cater for various other expenditures. The beneficiaries, in this case, could be the wife, husband, children, friends or family members. The term life insurance can be easily converted to a permanent life insurance and it is also renewable.

  • London Life’s term life insurance is a more affordable option than permanent lifelong insurance.
  • The insurance coverage protects you for a defined period of time at the lowest initial cost.
  • The premium in London Life’s term life insurance is locked in. This implies that the premium will not change in the course of the term you choose.
  • London Life provides two-term options: 10-year term or 20-year term.
  • In the event of the death of the insured, a lump sum benefit will be paid to the insured’s beneficiaries who could be the wife, husband, children, friends or family members.
  • London Life’s term life insurance can be converted to a permanent life insurance. However, no proof of health is required for the conversion to occur.
  • The term life insurance is renewable but the cost of the renewal will increase whenever you renew the plan.

 

Similar London Life Insurance Products

  • Life

 

Additional resources

Learn more about life insurance from these informative articles to help you decide in choosing the best plan for you.

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