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Term Life Insurance

Whether you're looking for your first life insurance policy after getting married, buying a home or starting a family, or you have some life insurance but would like a top-up. Term Life Insurance provides cost-effective protection. You pay only for the coverage you need. Term life insurance is a life insurance product that covers you for a specific period of time, typically from 5 to 30 years. When you buy term life insurance, you lock in your premium and coverage for the entire term. When your term expires, you may have the option to renew your policy at a higher cost premium or let your coverage expire. Some policies also let you convert to Term life insurance or universal life insurance, typically between one and five years before the policy ends.

Why should I get term life insurance?

Term life insurance is best for people who have a temporary need for life insurance. Some examples include:

  • If you have a mortgage, and want to leave your family enough money to pay it off if you die (assuming you don't have mortgage life insurance).
  • If you have young children who need to be provided for.
  • If you’re planning to retire and only need coverage for as long as you expect to work
  • Financial protection plus a source of cash

MENDRE Insurance Group will help you to get

  • Flexible: Choose any term from 10 and 40 years. If you pass away within this time period3, your beneficiaries receive your policy benefit tax-free4.
  • Simple: Premiums and coverage are guaranteed for your entire term. Plus, you can renew your policy at the end of your term.
  • Affordable: Premiums are typically lower than for other types of life insurance, making term life insurance a good option if you have a growing family.
  • Convertible: Convert your policy into permanent or universal life insurance until you are age 71, without health questions or a medical exam.

Are you making decision to apply for term life insurance?

The decision to purchase Term life insurance rather than term is a personal choice and depends on your finances, age, and coverage goals. The first part of the decision-making process when it comes to choosing between Term life and term is cost. Term life policies cost significantly more than term policies for the same amount of coverage. Although that cost is guaranteed to remain level, your main concern should be with having adequate coverage when you need it.

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We’ll find you which company will give you the least expensive insurance quote possible. Since we have best insurance companies to choose from, we are usually successful at doing that.

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Term to 100 Insurance

Life Term to 100 coverage lasts for a lifetime. It offers guaranteed low premiums to age 100.

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Choosing Life Insurance: The Facts You’re Missing

What is term life insurance? What is Term life insurance? How can you get the information you need and make the right decision about life insurance?

Whole Life Insurance

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Term life insurance: Common questions

For you and your spouse, if applicable, coverage reduces by 50% at the policy anniversary following age 65 and terminates at the policy anniversary following age 70.
You are eligible for the living benefit loan if you are terminally ill and expected to die within 12 months. Upon qualification, and with the consent of any beneficiaries, you can request an amount to be advanced, up to a maximum of 50% of the amount of insurance in-force not to exceed $50,000.
You can purchase Term Life Insurance for your spouse. Subject to satisfactory statement of health, coverage is available from a minimum of $50,000 to a maximum of $1,000,000, in increments of $25,000. You are not able to purchase Term Life Insurance coverage for your dependent child(ren).
Whole life insurance is a 'set it and forget it' policy - your premiums stay the same and no change is needed at any time. This is best for people who want simplicity, have some money to play with in the beginning, and know they want life insurance for the rest of their lives. Term life insurance only last a certain number of years, 5 or 10 say, and is great for people who only want life insurance for a little while. Term life insurance permiums are generally cheaper than whole life insurance premiums when you're young, but more expensive when you're older.
The death benefit is paid out to your beneficiaries upon approval of the death claim.

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Why should I get Term life insurance?

Term life insurance is one of the major categories of coverage in Canada, and anyone getting life insurance needs to give it some serious thought. However, whether Term life insurance is the right option for you is not a simple question! Let me try and give you a little guidance.

Cash Value

Assuming that you are paying your monthly premiums, a Term life insurance policy will cover you for your entire life. The idea of ceaseless life insurance coverage comforts many customers. Typically, term life insurance policies won’t cover you after age 65. And once the term expires on a term policy, the premiums typically increase substantially. Term life insurance differs from term life insurance in its provision of both a death benefit and a savings account. A portion of your life insurance payment is set aside in a savings account often meant to serve to fund retirement. Insurance agents refer to this as “forced savings.” You can withdraw or borrow against the cash value of your savings portion of your insurance policy. In addition, if you outlive the life of the policy, you can receive cash back, which acts as another security feature to ease consumers minds.

Provide Inheritance

Because life insurance proceeds are paid out tax-free, you can ensure that your beneficiaries get the amount you want them to get. Life insurance is the fastest way for your family to get money upon death – reap the benefits of no probate process. Additionally, Term life offers features that term coverage doesn’t, such as dividends for participating policies, and a cash value component that you may be able to borrow against. Term life can be seen as an insurance policy and an emergency fund in one: imagine having to pay for emergency roof repairs, or wanting to help your child buy their first car. A Term life policy may allow you to access funds at a relatively low interest rate, but it’s important to remember that your death benefit will be reduced accordingly. You can repay these loans and borrow again in the future if the need arises.

If you are still confuse to choose between different type of insurances. Don't Worry! Let us guide you with simple and easy process and help you find best prices.

We’ll find you which company will give you the least expensive insurance quote possible. Since we have best insurance companies to choose from, we are usually successful at doing that.

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About MENDRE Insurance Group

MENDRE Insurance Group is an independent insurance brokerage company. All insurance products can be obtained at competitive rates at MENDRE Insurance Group. Our professional insurance team comprises of insurance experts who are citizens of Flordia & Massachusetts or permanent residents. Having extensive knowledge of different companies and how they underwrite we can help you insure everything from your life, health to final expenses, and everything in between.

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MENDRE Insurance Group Website Disclaimer: We do not offer every plan available in your area, but we do offer almost all of them. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options. MENDRE Insurance Group is a licensed independent insurance agency licensed to sell insurance in Flordia & Massachusetts, USA.

MENDRE Insurance Group is a licensed independent insurance agency licensed to sell insurance in Flordia & Massachusetts, USA. Not all products are available in state. Product eligibility for each carrier varies depending the following factors: resident state of the insured, age, and medical underwriting restrictions. All plans with no waiting period require an applicant to be medically approved by the insuring company and are subject to the incontestability period. All guaranteed acceptance plans that have no health questions will be subject to the insurer’s defined waiting period before benefits become payable under the policy provisions. By submitting a request to apply for coverage, you agree to MENDRE Insurance Group’s privacy policy. Furthermore, you also consent and expect to be contacted via text, email and phone by a licensed agent of MENDRE Insurance Group. Under no circumstances will MENDRE Insurance Group share or sell your information to a third party.
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