Term Life Insurance
Term Life Insurance provides coverage for a specific period, such as 10, 20, or 30 years. It is designed to offer financial support to your beneficiaries should something happen to you during the term.
That’s all it takes to make sure your family can be taken care of financially if the unexpected happens.
of service and commitment to providing insurance protection
in insurance coverage, ensuring that families have the financial support they need
approved, granting them essential life insurance coverage
How Does It Work?
Term life insurance is designed to provide financial protection for your loved ones over a specific period, typically ranging from 10 to 30 years. During this term, you’ll pay a fixed premium, ensuring predictable costs over the policy’s lifespan. If you pass away during the coverage period, your designated beneficiary will receive a lump sum payment, known as the death benefit. This payout can help cover funeral expenses, pay off debts, replace lost income, or provide for your family’s financial security in your absence. Term life insurance offers a straightforward and cost-effective way to ensure your loved ones are financially protected.
Benefits
Affordable Options
Term life insurance offers an economical way to secure a death benefit for your family, providing financial support during a set period.
Customizable Terms
Choose a policy duration that best suits your family’s unique needs, with flexible options of 10, 15, 20, or 30 years to fit your plans.
Tax Advantaged
Your beneficiaries will receive the death benefit tax-free, allowing you to leave behind a meaningful legacy without tax implications.
Stable Payments
Enjoy complete peace of mind with fixed premium payments, ensuring your budget remains predictable throughout the policy term.
Flexible Choices
Many term life insurance plans let you convert to a permanent policy, offering adaptability without requiring an additional medical exam.
Our Process
Step 1
Click “Get in Touch” and fill in your information to provide us with the necessary details about your needs and preferences.
Step 2
You’ll have a personalized consultation with one of our representatives, who will guide you through your options and answer any questions you may have.
Step 3
Receive your coverage approval as early as the same day, ensuring you can secure financial protection for your loved ones without delay.
Testimonials
FAQs
Term life insurance is straightforward: you choose the amount of coverage you need, with guidance from an advisor, and select a period for that coverage. The term can be 10, 20 years, or up to age 80. Once the term ends, so does the coverage. If you’re seeking lifelong protection, whole life insurance might be a better option—it lasts your entire life and offers additional benefits along the way.
HDA Life Insurance offers term policies for 10 years, 20 years, or until age 80. When the term expires, coverage ends, and you may need to re-evaluate your financial protection needs.
When your policy’s term ends, your coverage ceases. If you still have financial obligations, like supporting loved ones or paying off a mortgage, you may want to purchase a new policy. With an HDA Life Insurance term policy, you can convert some or all of it into whole life insurance for lifelong coverage, including the added benefit of building cash value.
Term Life Insurance: Provides coverage for a set period and is typically more affordable.
Whole Life Insurance: Offers lifelong coverage and builds cash value over time, which can be used for various expenses. Whole life insurance can also earn dividends that can be taken as cash, used to pay premiums, or to buy additional coverage.
While life insurance through your employer is a good perk, it often provides limited coverage—usually one or two times your annual salary. However, you typically need around 10 times your annual salary for adequate protection. Also, employer-provided coverage doesn’t follow you if you leave your job. Buying individual life insurance early ensures lower costs.
Yes, term life insurance can be very affordable. For example, a $500,000 policy for a 35-year-old female costs about $0.72 per day, while for a 35-year-old male, it’s about $0.87 per day. The actual cost depends on factors like your age, health, and the length of coverage. To get a tailored quote, it’s best to consult with an advisor.
No, term life insurance does not build cash value like whole life, universal life, or variable universal life. These types of policies include a savings component that grows tax-deferred and can be accessed for various financial needs during your life, such as college expenses or additional income during retirement.
Term life insurance is ideal for younger individuals who want affordable coverage for a set period. However, as your financial needs evolve, whole life insurance may be more suitable. That’s where term conversion comes in. With HDA Life Insurance, you can convert your term policy into a whole life policy without requiring additional health exams. This gives you the flexibility of lifetime coverage, and it’s smart to lock in your premiums early to avoid higher costs later.