The Benefits:

A quick and inexpensive way to protect your family’s way of life if you die.
Can cover final expenses and protect your heirs’ estate.
Pay off a mortgage or other debts allowing your family to maintain their lifestyle.
Provides an immediate estate.
Death benefit is generally tax-free.
Benefits generally avoid probate, so cash is available immediately when the insured dies.

TERM LIFE
10 Year/20 Year/30 Year Term
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Best suited for those who have the greatest need for high death benefits at the lowest cost. Usually purchased by younger individuals and families just starting out.

Advantages:

Provides a high death benefit for the least amount of money initially.
Great choice for those who need protection for a specific amount of time or purpose.
20-Year and 30-Year Terms are good for those with very young children or longer-term mortgages.
10-Year Term is good for those with older children at home or shorter-term mortgages.
Guaranteed level premiums for the term, guaranteed death benefit and guaranteed renewable.
Can be converted to permanent insurance within the first 10 years and before age 65.
Can add term insurance protection to policy on the lives of children.

Disadvantages:

Not the best choice if need for life insurance is longer than the term.
Premiums increase dramatically after the term.
No cash value.