In the world of life insurance, termlife is a great option for a number of different living situations. Term life insurance is a specific type of life insurance that only provides coverage for a given term or number of years. Termlife is distinguished from whole life by a number of factors, including the fact that termlife does not build up a cash value. You cannot borrow money from a termlife policy the way you can from a whole life policy.

That being said, termlife insurance policies have the distinct advantage of having significantly lower premiums than whole life policies. This makes them a natural solution for families that do not have the income necessary to invest in a permanent or whole life policy. Termlife policies generally come in terms of either 10, 15, 20, or even as high as 30 year increments.

Deciding on a term length can seem like a difficult proposition for many individuals considering this type of policy. This need not be so. At American Life Insurance, we have experts on staff ready and willing to answer any questions you might have about term length options and the pros and cons of term versus whole life insurance policies. Sometimes the term length is an obvious choice. For example, if you have 20 years left on your home mortgage, you might opt for a 20 year term life policy to ensure that your family will not have to worry about making ends meet.

Coverage amount is another big question that many people have when it comes to term life insurance policies. Again, sometimes the answer to the proper amount question can be easy. To take the home mortgage example again, if you currently owe $200,000 on your home, you can be certain that a term policy of around that same amount will cover all mortgage payments. There are other factors to consider, however, including but not limited to your children's college tuition and your potential funeral expenses. At American Life Insurance, we can help you determine a good policy amount and explain how we came to that amount so that you fully understand the type of coverage you are paying for. Additionally, should you want to convert your term life policy to a whole life policy, many of the policies we carry offer this option. There are some restrictions, however, and if you think that you might want to convert in the future, it is a good idea to talk with us about this before you sign up for a specific policy.