NO CASH VALUE

Term insurance does not build cash value, and so it can give you the most coverage for the smallest payment.

TERM INSURANCE IS THE FIRST POLICY YOU SHOULD BUY

Even if you also by cash value insurance, you should by term insurance to "bulk up" the value of your estate.

TERM INSURANCE LASTS FOR A FIXED PERIOD OF TIME

Term insurance continues for 10, 15, 20, or 30 years. At the end of the term, you do not collect any money. It is a fair trade-off because are paying the lowest fee. You are only buying protection.

OPTIONS TO CONVERT

Term policies often can be converted to permanent or cash value policies without an additional medical examination or proof of insurability.

YOUR INSURANCE IS NOT CONNECTED WITH YOUR MORTGAGE

You can own term insurance even if you do not own a home or have a mortgage. Your beneficiary can spend the money as he or she wishes. If you do leave behind a home, your beneficiary can spend all, some, or none of the proceeds paying down the mortgage.

DO NOT CONFUSE TERM INSURANCE WITH ACCIDENTAL DEATH INSURANCE

Do not confuse true term insurance with the accidental death policies which your mortgage company will try to sell you. Accidental death insurance only pays off if you die in an accident, not if you die of a disease. 

YOU NAME THE BENEFICIARY

You can leave the money to whomever you choose. You can change the beneficiary designation at any time.

DEATH BENEFITS AND PREMIUMS ARE LEVEL

Instead of benefits declining as the mortgage balance drops, the benefits generally remain level for the full term of the policy. Premiums are level and do not increase as you get older. Declining term insurance is available, but it is usually sold in connection with accidental death insurance designed to pay off the declining balance on your mortgage.

TERM INSURANCE IS PORTABLE

Because it is not connected with any particular property. If you refinance the loan or sell the home, you still have the insurance policy.