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.
Benefits Obtainable in London Life’s Term Life Insurance
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.