Term Insurance

Term insurance is an affordable way to attain life insurance over a specified amount of time. Provide financial support to your family and loved ones when you die with term insurance. 

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    Insurance Cleveland is currently licensed in the following States: Illinois, Ohio, Michigan, Pennsylvania

    Term Insurance That Fits Your Needs

    Coverage Options

    Term Insurance is the simplest form of life insurance that is both affordable and temporary. It pays only if death occurs during the term of the policy, which is usually from five to forty years. If you were to die during the term, your beneficiaries (people/organizations you choose to receive your life insurance money) receive a check in the amount of coverage you chose. Term life insurance coverage amounts typically range from $50,000 to millions of dollars. Most term policies have no other benefit provisions.

    There are two basic types of term life insurance policies—level term and decreasing term.

    • Level term means that the death benefit stays the same throughout the duration of the policy.
    • Decreasing term means that the death benefit drops, usually in one-year increments, over the course of the policy’s term.


    Policy Highlights 

    • Affordable and temporary type of life insurance.
    • Pay fixed premiums for your coverage.
    • All types of death are covered.

    Frequently Asked Questions

    Why do I need term life insurance?

    In the periods of your life when your unexpected death would have a substantial negative impact on those relying on your income, term life insurance provides financial security. By purchasing term life insurance, you are making sure your family won’t have to struggle to cover bills or a mortgage.

    How does term life insurance work?

    You set the term length and coverage amount based on your family’s financial needs and budget. If you die at any point during the term length, your beneficiaries receive a check in the coverage amount you chose.

    What is the difference between whole life insurance and term life insurance?

    The main difference between term and whole life insurance is how long the coverage lasts, the different features, and the cost. Term life is temporary, can range from 5 – 40 years, and is most affordable. Whole life has lifelong coverage, a savings component that accrues cash value, and is more expensive because of the added features and length of coverage.