About Term Life Insurance
A term life policy is a great choice when you want quality protection at a set price for a set amount of time.
Think of it like renting a home or leasing a car. You choose the length of time and amount of coverage, and your payments stay the same until the end of your term. Some term policies give you the option to renew your policy at the end of the term but premiums will be significantly higher. With other term policies, your coverage stops at the end of the period so if you still need life insurance coverage, you can apply for a new life policy.
With most Allstate life insurance policies, you get recommendations for leading a healthier, happier life with a personalized wellness report.
Video: Term Life Insurance Made Simple
VIDEO: What's The Difference Between Term And Permanent Life Insurance Policies?
Riders Can Enhance Your Policy
Riders are features that enhance a life insurance policy with additional protection. Some riders are already included with a policy. Others can be added after a policy has been issued.
If you have questions about the riders on a policy, or to learn about riders that may be available to add to a policy, please contact your Allstate agency.
Glossary of Terms
These terms may not apply to all policies.
The person or organization you designate to receive the death benefit.
The portion of a permanent life insurance premium that grows over time and can be available for loans or withdrawals. Your policy is term insurance, so it does not accumulate cash value.
The payment a beneficiary will receive upon your death.
This is the amount of death benefit at the time of issue.
The period of time you have, following your premium due date, to make a payment and avoid cancellation.
A term used to mean the policy's coverage is in effect.
The person whose life is covered by the policy purchased.
The same as the insured if no other person is named in the application as the owner. The owner controls the policy during the lifetime of the insured.
Benefits or features added to your policy. They may be optional or available for an additional cost.