Independent Insurance Agency serving Arizona for over 30 years.
2410 E. Route 66
Flagstaff, AZ 86004
11225 N. 28th Dr. Ste-D
Phoenix, AZ 85029
Mountain Valley Insurance
4672 Maverick Ln.
Lakeside, AZ 85929
355 Main St.
Camp Verde, AZ 86322
Insurors Network LTD. 2016. All rights reserved.
Why choose us?
What is Term Life Insurance?
Term life insurance is the cheapest, simplest, and probably the most popular type of life insurance available. Term life insurance is temporary, meaning that a policy provides coverage for only a certain number of years. You can choose annual renewable, 5, 10,15, 20, 25, or a 30 year level term, depending on the life insurance company and eligibility of the proposed insured.
A typical term life insurance policy guarantees fixed or level premiums throughout the duration of the term. For example, if John Doe purchases a 25 year term policy with a death benefit of $500,000; he will pay the same premium every month for the next 25 years. If John were to die within that 25 year term, his beneficiary would receive the sum of $500,000. Premiums can also be paid quarterly, semi-annually, and annually.
Return of Premium
There are a number of different riders, or additional features, which can be added to a term life insurance policy. One of the most attractive is the Return of Premium rider. When chosen, this rider provides that at the end of the term, the payor receives all of their premiums back. Certain eligibility requirements must be met in order to attach this rider to a term policy. A Return of Premium rider attached to a term life policy can be used to help families protect their mortgage and pay the loan off early. For more information go to the page titled: MORTGAGE PROTECTION LIFE INSURANCE.
Waiver of Premium Rider
Another popular rider to add onto a term life policy is the Waiver of Premium rider. If the insured were to become disabled, this rider would provide that the premiums will be waived and the policy will continue in force. This feature is usually only a few dollars more per month in addition to the base premium.
Disability Income Rider
An unexpected accident or illness may not always lead to an untimely death. Such events could bring the onset of a disability which prevents someone from working and bringing in much needed income. A Disability Income rider can be added to a term life insurance policy to help fend off financial hardship under such circumstances. This option can provide a monthly payment or act as a supplement to a Social Security disability benefit to help maitain a family's financial solvency.
Accelerated or Living Benefits
Another rider that can be added to a term life insurance policy is an Accelerated or Living Benefit rider which would advance the death benefit in case there is an onset of a critical or terminal illness, or confinement to a skilled nursing facility.
Term Life Insurance