American Financial Consulting

We are licensed with one priority—you and your family. Therefore, our team is strongly committed to helping you find the best annuity, life and health insurance coverage policies customized to fit your needs, goals, and budget so that you and your family can experience and enjoy the best things in life worry-free!

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Term Life Insurance

Term Life Insurance

Ensure your family is financially prepared in case you (the breadwinner) die. Also referred to as pure life insurance, Term Life Insurance is a policy that guarantees payment of death benefit if the policyholder dies during a specified term. With this policy in hand, you can rest at ease that your dependent loved ones/ beneficiaries will not have to struggle financially.

Here’s a quick overview of how a Term Life Insurance policy works:

When you choose a term life insurance policy, the premium will be based on the value of the policy, your age, gender, and health. Some insurers may also carry a medical exam before issuing the policy. They may also inquire about:

  • Your current medications
  • Driving record
  • Smoking status
  • Occupation
  • Hobbies
  • Family history

If you die during your policy term, the insurance company shall pay the face value of the policy to your beneficiaries. Please note that in most cases, this cash benefit is not taxable. Therefore, your beneficiaries can also use it to settle your funeral cost, mortgage debt, healthcare bills, and consumer debt, to name a few.

Also, the Term Life Insurance will become obsolete after the term expires. However, some insurance companies do offer the option of turning Term Life Insurance into Whole Life Insurance. Policyholders can choose a term length of 5, 10, 15, 25, or 30 years. It is often best to buy a term policy that lasts 15 to 20 years.

Talk to our insurance agent to discuss your policy needs and the benefit of renewing the policy. We can help you find a Term Life Insurance policy that fits your requirements.

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