What Is Covered Under Term Life Insurance | Pacific Wealth Solutions

Term Life

What’s the difference between term and
permanent life insurance?

Term Life

  • Predetermined
  • Lower
  • None
  • Not Applicable
  • Generally Stays the Same
  • Yes

  • Length of Coverage
  • Cost of Premium
  • Accumulation of Cash Value
  • Taxation of Cash Value Accumulation
  • Premium Variation
  • Death Benefit

Perm Life

  • End of Life
  • Higher
  • At favorable rate
  • None
  • Generally stays the same
  • Yes

What Is Term Life?

Term life insurance guarantees payment of a stated death benefit if the covered person dies during a specified term.

The policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate.

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How it works

Step 1:
  • Choose your financial preference and answer brief questions to get paired with life insurance products that best fit your profile.
Step 2:
  • Compare and select one or multiple products you wish to proceed with. Click "Apply Now".
Step 3:
  • Register an account and proceed to the application. Receive professional help if wanted.
Step 4:
  • E-sign and submit your application instantly. Optional to connect your electronic medical records with submission.
Step 5:
  • Receive notification about policy status and upload documents in your dashboard. Wait for your policy approval with ease of mind.