Term life insurance is for a specific period and has an end date, such as ten years from the starting date. The policyholder only gets the death benefit if they die during the policy’s term. It is possible to convert some term insurance policies into permanent life insurance policies without a medical examination. However, converting this insurance policy to a permanent one can cost more. Term life insurance has low premiums but is a good option for protection against increased exposure and risk. If the policyholder meets the policy conditions, the beneficiaries get a lump sum amount equal to the coverage amount they have paid.
At Edison Risk, we partner with various insurance carriers to provide a range of term life insurance options. We ensure to provide the right guidance, support, and resources that maximize the protection of your clients and give you an edge over competitors. You can collaborate with us to develop a customized term life insurance plan for the unique needs of your clients.
