Term Life Insurance

Get Affordable Protection For Your Family.

Your loved ones depend on you, and if you were gone, term life insurance can help you to continue providing financial protection and security for your family. While it may be difficult to think about, term life insurance can help provide you with peace of mind because it can help provide an income that can cover expenses like housing, childcare and groceries.

Talk to an Allstate personal financial representative to learn more about the two types of term life insurance they offer:

  • Basic Term: Allstate's basic term life insurance policy can cover you for 15 years. While it doesn't require a medical exam, coverage and the cost of your monthly payments will depend on your answers to a health questionnaire. You can choose from coverage benefit amounts of $50,000, $100,000 or $150,000.
  • TrueTerm with TrueFit: This type of term life insurance gives you the option to choose a coverage time period between 10 and 30 years. It offers customized coverage that can be layered to address the unique needs of your family.

The Difference Between Term Life and Permanent Life.

There are many options to consider when purchasing a life insurance policy. Understanding the following differences between term life insurance and permanent life insurance can help you make an informed decision:

  • Term life insurance offers protection for a finite period of time (10 to 30 years), and permanent life insurance policies offer lifetime protection.
  • Permanent life insurance builds cash value and term life insurance does not. An Allstate personal financial representative can help you understand the difference between different types of life insurance and answer questions to help you decide what's right for your family.

Get To Know Term Life Insurance.

Understanding the fundamentals of term life insurance can help you make more informed decisions about what your family will need. Taking a little time to learn now can help you protect your family in the future. The terms below can help you get to know more about term life insurance:

  • Cost: Term life insurance is often the most affordable type of life insurance. Your monthly payment is mostly based upon personal health history, age, term and amount of coverage.
  • Term: Your policy's "term" is the set amount of time you have life insurance coverage at the same premium level. Typically, a term life insurance policy's term ranges from 10 to 30 years.
  • Coverage: This is the payment amount your beneficiary will receive if you pass away while the policy is active. Your beneficiary can use this payment to help with housing and childcare costs or other expenses. Typically, this payment is tax exempt.1

A term life insurance policy can often be renewed, or you can purchase a new policy, at the end of its term. You can convert your term life insurance to a permanent life insurance policy without needing a medical exam prior to the end of the conversion period.

Keep in mind that the longer you wait to convert your policy from term to permanent, the more expensive it may be. Because you become more expensive to insure as you age, if you purchase a policy in your twenties, your monthly premium will most likely be lower than those who purchase a policy in their fifties.

There are a variety of options available to help you customize your term life policy to fit your specific needs. Talk to an Allstate personal financial representative to learn more.

1 The death benefit of life insurance policies that were transferred for value may be subject to ordinary income taxes. Estate taxes may apply. Consult your tax advisor for additional information.

This information is provided for general consumer educational purposes and is not intended to provide legal, tax or investment advice. Life Insurance offered through Allstate Life Insurance Company, Northbrook, IL; Allstate Assurance Company, Northbrook, IL; Lincoln Benefit Life Company, Lincoln, NE and American Heritage Life Insurance Company, Jacksonville, FL. In New York, life insurance offered through Allstate Life Insurance Company of New York, Hauppauge, NY. All guarantees are based on the claims-paying ability of the issuing insurance company.

TrueTermSM is a term life insurance policy issued by Lincoln Benefit Life Company, Home Office: Lincoln, NE. TrueTerm is available in most states with contract series LP0600-1 and rider series LR1201, LR0601, LR0603, LR0806, LR0604 and LR0605. This policy has exclusions, limitations and terms that may affect coverage, renewal, cancellation, termination or other contractual rights and benefits.

In New York, TrueTermSM is a term life insurance issued by Allstate Life Insurance Company of New York, Hauppauge, NY. TrueTerm is available with contract series NYLU757-1 and rider series NYLU785, NYLU758, NYLU668, NYLU745, NYLU669, and NYLU670. This policy has exclusions, limitations, and terms that may affect coverage, renewal, cancellation, termination, or other contractual rights and benefits.

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