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Term Life Insurance Policies

Term life insurance provides quick, simple, and affordable financial protection for your loved ones.
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Term life insurance

What is a term life policy?

Term life insurance provides coverage for a specific period (usually 10 to 30 years) chosen by the policyholder. It is one of the most affordable and straightforward life insurance options. If the policyholder passes away during the term, their beneficiaries receive a death benefit. Unlike permanent life insurance policies, term life does not accumulate cash value over time.

Is a term life insurance policy right for me?

Term life insurance is an excellent option for those who need affordable protection for a set period. It’s ideal for individuals who are seeking significant coverage at a lower cost, especially when they have high financial responsibilities. The premiums are fixed for the duration of the term, which makes budgeting easier and provides predictability.

Term Life Insurance with Surevix might be right for you if:

  • You need to replace lost income: If your loved ones rely on your income to manage daily living expenses, raising children, or paying a mortgage, a term life policy can provide the financial support they need if you’re no longer there.
  • You have short-term financial responsibilities: If you have obligations like loans, a new business, or credit card debt, term life insurance ensures your debts are covered and your family doesn’t face additional financial strain.
  • You want affordable coverage: If you’re working with a budget but still want life insurance protection, term life insurance is usually the most cost-effective option.
  • You prefer simplicity: Term life insurance offers a straightforward plan with fixed premiums for a set term and clear death benefit payouts, giving you peace of mind without the complexity.

What’s the difference between term and whole life insurance?

Term life insurance offers affordable coverage for a set period, providing a death benefit but no cash value. It’s ideal for replacing income during critical years.

Whole life insurance provides lifetime coverage and builds cash value but comes with higher premiums. It’s suitable for more complex financial needs or those seeking lifetime security.

Coverage you can trust

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

Why purchase with Ethos?

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Expert advice

Have questions? You can chat with our licensed agents who are ready to assist you in finding the right life insurance policy for your needs. You don’t have to talk to one if you prefer, though.

Fast process (no medical exams)

Our completely online process is fast and simple, allowing you to apply in minutes—no medical exam required. Just answer a few health questions.

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Flexible coverage

Choose coverage from $20,000 to $2 million with terms ranging from 10 to 30 years to fit your specific needs.

Free-look, money-back guarantee

Enjoy a 30-day free-look period to ensure you're satisfied with your policy. If not, you’ll get a full refund. You can also cancel at any time without fees.

FAQs

What Does Term Life Insurance Cover?

A term life policy provides a cash payout that your beneficiaries can use for various needs, including:
  • Home mortgages or rent
  • Lost income
  • Loans and debt
  • Children’s education
  • Living expenses
  • Funeral costs

How Do Term Life Policy Claims and Payouts Work?

When you pass away during the coverage period, your beneficiaries file a claim with the insurance carrier. They will receive a tax-free lump-sum payout, typically within a few weeks. For example, if you have $1 million in coverage, your beneficiary receives $1 million.

Are There Circumstances Where the Payout Won’t Be Paid?

A claim may not be paid if there is fraudulent information in the application or if death results from suicide within the first two years of the policy.

What happens when my term ends?

At the end of your term, you have several options:
  • Apply to extend the term
  • Apply for a new policy with updated coverage
  • Choose not to extend or renew your policy.

How does term life insurance work?

Term life insurance provides a death benefit to beneficiaries if the policyholder passes away during the coverage period, which typically lasts from 10 to 30 years. Term life premiums are usually more affordable than permanent life insurance since they only cover a specific term and don’t build cash value over time.

Can you cash out a term life insurance policy?

No, you cannot cash out a term life insurance policy. It is designed solely to provide a death benefit and doesn’t accumulate any cash value.

Do you pay taxes on life insurance cash out?

Death benefits from life insurance are typically not subject to income tax. However, if you cash out a policy and there are gains, those gains may be taxable.

What happens when a term life policy matures?

When a term life policy matures, the coverage ends. There is no payout or cash value at maturity. Policyholders can consider renewing the policy or purchasing a new one.

Have more questions?

You can find answers on the Surevix FAQ page.

How to purchase a policy

Choose coverage

Select a policy that suits your needs. Surevix offers a variety of coverage options and term lengths, allowing you to personalize your plan.

Apply online

Complete a simple online application in just about 5 minutes. It’s quick and straightforward.

Activate your coverage

After submitting your application, we’ll process it and provide a fast decision on your coverage eligibility and rate. If approved, you can activate your coverage immediately.

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Resources

Do I need life insurance?

Wondering if life insurance is right for you? Chances are, you probably do. Find out why life insurance might be essential for you here.

Learn More

How much life insurance do I need?

Your life insurance needs are unique to your situation. We’re here to help you determine the right coverage for you.

Learn More

Term life insurance rates by age

Our chart shows how premiums change across different age groups based on our policies.

Learn More

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1606 Headway Circle #9013
Austin, TX 78754
(231)213-2323
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Surevix Estate Planning, LLC provides online estate planning resources and products, which are entirely separate from the life insurance services offered by Surevix.
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