Term life insurance is probably the simplest and most cost-effective type of life insurance you can buy. It provides the highest amount of death benefit at the lowest initial cost for a specified period of time—usually 20 years or less. Ideal candidates for term insurance are generally young, growing families or businesses that have a substantial need for insurance protection, but may lack the resources to pay for it.
Term life Insurance provides:
Affordable coverage for a specified period of time
Death benefits are tax-free to beneficiaries
Affordable way to cover debt obligations such as tuition, mortgages, bills, and more
Benefits of a Term Life Insurance Policy
Low initial premiums
Variety of premium lock-in options, including 1, 5, 10, 15, 20, and 25-years
Ability to convert to permanent coverage regardless of your health
Elements to Consider
Premiums may increase after the guarantee period expires
Coverage may terminate at the end of the policy term, regardless of whether the need for coverage still exists
All products contained within this Web site may not be offered at a Wachovia branch.
Securities and Insurance Products: Not Insured by FDIC or any Federal Government Agency; May Lose Value; Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate
Insurance products are offered through non-bank insurance agency affiliates of Wachovia Corporation and are underwritten by unaffiliated insurance companies. Wachovia Corporation's insurance agency affiliates receive compensation from an insurer or other entity for the sale of products and fees for services performed.