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Term Life Insurance Policies

Term life insurance offers fast, easy and affordable financial protection for your loved ones.
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Term life insurance

What is a term life policy?

Term life insurance is a type of life insurance that provides coverage for a specific period, or term, chosen by the policyholder. It’s typically the most straightforward and affordable life insurance option by covering you for a set “term” (life insurance terms are typically 10 to 30 years). If you pass away during the term period, your beneficiaries receive a cash payment, called a death benefit.

Unlike permanent life insurance policies, such as whole life or universal life, term life insurance does not build cash value over time. 

Is a term life insurance policy good for me?

Term life insurance is a straightforward and cost-effective solution for individuals seeking affordable protection during specific periods of their lives. It’s important for individuals to carefully consider their financial goals and needs when choosing the duration and amount of coverage that best suits their circumstances.

That said, there are a few reasons that many people choose to get a term life policy. First, it’s generally more affordable than permanent life insurance, especially in the early years of coverage. This makes it an attractive option for individuals who want significant coverage at a lower cost, particularly during times of higher financial responsibility.

The other key advantage is that premiums for term life insurance policies are fixed for the duration of the term. This means that the policyholder pays the same premium amount each year, providing predictability for budgeting purposes.

Term life insurance with Ethos might be right for you if:

  • Your loved ones would need to replace lost income while raising children or paying a mortgage. Whether you’re the breadwinner or a contributor to the family finances, your loss of income could mean a big lifestyle change for the people you leave behind. A term life policy can help avoid that.
  • You have short-term financial responsibilities such as loans, a new business, or credit card debt. The last thing you want to do is leave debt behind for your family to have to deal with. A term life insurance policy can make sure your obligations are taken care of.
  • You want the most affordable life insurance coverage. If you’re on a budget but still want life insurance protection, a term policy is typically the most affordable.
  • You appreciate the straightforward nature of term life insurance. Same fixed premium for a set term, and you know what the death benefit payout is – there are no surprises or complex things to manage.
What’s the difference between term and whole life insurance?

If you’re considering life insurance, term policies use premiums to cover you for the determined “term” of the policy, expiring if not claimed within that time frame. Whole life insurance can last your entire life if premiums remain current. Whole life policies also have the potential to accrue cash value, depending on the policy. Still, premiums typically cost between five and 15 times more than a term life insurance policy for the same benefit amount. 

A term life policy may provide a good match for someone seeking affordable coverage to replace lost income over a critical period, such as while raising children or paying off a mortgage. Whole life insurance offers options for those with more complex financial situations or someone desiring the security of lifetime coverage

Coverage you can trust

Aspire Financial Groups term life policies are backed by established life insurance companies like Legal & General America, Ameritas Life Insurance Corp., and TruStage®. By combining Ethos’ streamlined application with their coverage, we’ve shortened the application process to minutes, compared to weeks with traditional applications. With Ethos, you get the dependability of major insurers and the convenience of modern technology.

Why purchase with
Aspire Financial Groups?

Expert advice

With a big financial decision, you may have some questions. You don't have to talk to an agent if you don't want to, but if you do, our licensed agents remain ready and eager to answer your questions. They're here to help you find the right life insurance term insurance policy for you.

Flexible coverage

With a term policy, life insurance can cover you anywhere from $20,000 to $3 million in protection. Ethos has policies for 10-, 15-, 20-, 30-, and 40-year terms so you can find the perfect timeline for your needs.

Fast process (no medical exams)

Our 100% online and hassle-free process makes it easy to apply. What traditionally took weeks can now be done in minutes, and you don't even need a medical exam (just answer a few health questions).

Free-look, money-back guarantee

Take your term life insurance policy for a trial run with a 30-day money-back guarantee. If you're not fully satisfied in the first 30 days, we'll refund you in full. After that time, you can cancel your policy with no cancellation fees.

FAQ's

The cost of a $1,000,000 term life insurance policy per month varies based on factors like age, health, and coverage type. To obtain accurate pricing details tailored to your circumstances, click “get my quote here” for more information.

The worthiness of a million-dollar life insurance policy depends on individual circumstances and financial goals. While it provides substantial coverage, it requires careful consideration, especially regarding financial commitments and beneficiaries. A million-dollar life insurance policy may help cover education, mortgage or other costs in the case of the unexpected.

Beneficiaries receive a lump sum payout from a million-dollar life insurance policy upon the insured’s demise and processing of the claim by the insurance company. This payout helps to provide crucial financial support that can cover outstanding debts, funeral expenses, and ongoing living costs.

Generally, life insurance proceeds are tax-free to the beneficiary. However, interest earned on the payout may be subject to taxation depending on how the proceeds are managed. It’s advisable to consult with a tax professional for accurate information tailored to individual circumstances and tax laws.

How Aspire Financial Group works ?

Aspire Financial Groups  makes it easy to apply for a life insurance plan that helps protect those you care about most.

Choose your coverage

Select the life insurance policy that’s right for you. If you're not sure, keep in mind that you can make adjustments after you get approved. Wondering how much coverage you need? Use our handy calculator.

Apply in minutes

After choosing your plan, complete our simple online application and answer questions about your age, health, medical history, and lifestyle. It's easy, straightforward, and should only take about 10 minutes.

Get coverage

Once you submit your application, we’ll process it in real-time for a quick—often instant—decision. You can activate your coverage immediately after receiving approval, and we won't require a medical exam (the health questions you answer are enough).

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