What it is and why you need it
Term life insurance offers protection for a specific period of time, or "term". You pay your premium during the period of time that you're covered, and SBLI will pay benefits to your loved ones if you pass away.
You don't want your loved ones to face a financial burden, and life insurance will prevent that from happening. So why is term life insurance a good option for you?
Low-cost Term Life Insurance has lower initial premiums than other types of insurance. You can insure yourself and your family at a price you can afford.
Term Life Insurance will allow your family to meet financial obligations such as:
- Expenses at the time of your death: medical bills, burial costs, estate taxes.
- Ongoing family expenses: the mortgage, day care, tuition, debt repayment, and even paying into retirement accounts.
- Future family expenses such as children's college tuition, elder care, and moving.