Term Life Insurance

Term Life Insurance — Affordable protection for a specific period of time


Term Life Insurance — Affordable protection for a specific period of time

Term is the simplest type of life insurance. A term policy provides a guaranteed death benefit1 (a lump sum payment made to your beneficiary) for a guaranteed number of years1 (the term) for a guaranteed premium1 (the cost of the insurance). It’s one of the most popular forms of life insurance because it’s simple, straightforward and relatively affordable.

Life insurance that’s simple, straightforward, and affordable.

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Ensure you have enough to protect your loved ones.


What’s it used for?

Term life provides protection for someone who depends on you for financial support by paying out a lump sum of money after your death. Term premiums generally are lower than other types of life insurance, such as whole life and universal life. And premiums are tied to your age, so the younger and healthier you are when you purchase term insurance, the lower your premiums for a given amount of coverage. This makes term insurance attractive if you want basic financial protection for a certain number of years at an affordable cost.


What are the terms?

Terms can be almost any period of time from 10 to 30 years, with 20 and 30 years being the most common. Many people tie their term coverage to a specific financial debt, such as the length of their home mortgage and/ or replacement of lost income during their working years. Some people buy a policy that roughly corresponds to the number of years before their youngest child becomes an adult.

How much do I need?

You need to ask yourself how much money your dependents might need to support themselves if you were no longer around. Calculating this need can be a little complicated. An ING Insurance Professional or www.ingforlife.com can help you pinpoint the right amount.

Take the next step

Nothing’s more important than protecting your family’s future. Term life insurance may be an effective way for you to provide financial protection for your loved ones in the event of your passing. Speak to an ING Insurance Professional today to see if it’s the right solution for you.


1Guarantees are backed by the claims paying ability of the issuing insurance company.