Term Life Insurance

Term Life Insurance

Term life insurance plays a vital role in financial planning by offering an affordable and flexible way to provide financial security for dependents. Its simplicity, affordability, and ability to cover specific financial periods make it an essential tool for many individuals. Whether to ensure the continuation of income, pay off debts, mortgage balance and ensure college education for children, term life insurance offers peace of mind and financial stability in the face of life's uncertainties.

Term life insurance is one of the most cost-effective life insurance options, with guaranteed level premiums during the coverage term. We tailor the policy for the right amount of coverage, and for the length of time you need it. Our Term life insurance comes in coverage periods, ranging from 10 to 35 years.

There are many benefits to having life insurance. Here are 5 reasons why you should buy life insurance.

  • Income replacement
  • Mortgage Protection
  • College Funding
  • Final expenses
  • Pay off debts, estate tax or inheritance tax

Why choose us?

Our Term life policy comes with living benefits which could help cover the costs of care should you have a qualifying Chronic, Critical, and Terminal illness. At Nest4Future, we work with the top-rated providers to provide accelerated living benefits without having to pay additional premiums.

How much term life insurance coverage do I need?

The amount of coverage you need depends on various factors, including your income, debts, financial obligations, and the needs of your beneficiaries. A common recommendation is to have coverage that is 7 to 10 times your annual income. Factor in specific costs and needs around college education, mortgage balances while determining the coverage.
It is best to conduct a thorough financial needs analysis (FNA) and determine the right coverage using DIME (Debts, Income Replacement, Mortgage Balance, Education Expense) formula.

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Frequently Asked Questions

TERM life policy offered through Nest4Future Financial Services, includes a conversion option that allows you to convert the term policy to a permanent policy, such as whole life or universal life insurance, without undergoing a medical exam. This option is usually available for a specific period within the term.

Term life insurance covers the insured for a specific period, such as 10, 20, 25, 30 or 35 years and is generally more affordable, with no cash value component. Whereas Permanent life insurance provides lifetime coverage (up to 120 years), has higher premiums, and includes a cash value component that can grow over time and be borrowed against or withdrawn.

When choosing a term life insurance policy, consider the coverage amount, term length, premium cost, and the insurer’s financial strength and reputation. Also, review any available riders, such as those for accidental death, waiver of premium, or critical illness coverage, which can enhance the policy’s benefits.

Term Life Insurance does not necessarily mean that benefits are paid only upon the insured’s death. Our Term life policy comes with living benefits which could help cover the costs of care should you have a qualifying Chronic, Critical, and Terminal illness. At Nest4Future, we work with the top-rated providers to provide accelerated living benefits without having to pay additional premiums.

Some of the most life-altering disruptions to a person’s quality of life are major health events. Between the cost of care and the potential lost income, chronic, critical, and terminal illnesses can have a significant financial impact on quality of life at any stage.

Chronic Illness – Chronic illnesses are typically conditions suffered for a long period of time, during which normal daily living is disrupted. The qualifying illness or conditions affect the ability to perform simple tasks like eating or dressing without assistance; or, they may also involve severe cognitive impairment that necessitates substantial supervision, such as Alzheimer’s disease.

The illness or condition does not need to be considered permanent, but must impair the insured where he or she is unable to perform at least two Activity of Daily Living (ADLs);

ADLs – Bathing, Toileting, Continence, Dressing, Transferring, Eating

Critical Illness – Critical illnesses often come suddenly and without warning, and the financial affect can be life-altering. QoL Term life insurance can help you reduce the financial effects of the following qualifying critical illnesses or conditions

Major Heart Attack

Paralysis

Coronary Artery Bypass

Coma

Stroke

Severe Burn

Major Organ Transplant

Invasive Cancer

End Stage Renal Failure

Blood Cancers

Terminal Illness – Terminal illnesses are defined as those in which a physician reasonably expects will results in the insured person’s death within 24 months

Updates – 11th Jan, 2025

  • Indexed Universal Life (IUL) Insurance
  • Children College Planning
  • Retirement Planning
  • Indexed Annuities
  • Health Insurance
  • Long Term Care
  • Medicare
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