Insurance Information

Short term life insurance insures you for a specified time period only. It is typically available from $50,000 to $250,000 without a medical exam, but may vary, depending on the insurance company. In the event that more short term life insurance coverage is needed, you can usually renew at the same premium for several years.

Maximum length of coverage with a short term life insurance policy varies significantly between insurance companies. You have the opportunity to convert your short term life insurance into permanent life insurance which does not expire. The type of life insurance you select will be based upon your individual needs and budget.

Decreasing Term Life Insurance is where the face value slowly decreases from the start date to expiry date of the policy. Decreasing Term Life Insurance coverage decreases on either a monthly or annual interval in most cases, although insurance companies vary in their policies and coverage terms.

The purpose of a Decreasing Term Life Insurance policy is to insure financial obligations which also decrease over time, such as a mortgage or amortized loan. Decreasing Term Life Insurance is not intended for general life insurance needs which, typically increase over time due to the effects of inflation.