Term Life Insurance
The most affordable way to replace your income for a set period — so a mortgage, tuition, and everyday bills are covered if you're not.
Overview
Term life insurance pays a tax-free death benefit to your beneficiaries if you pass away during the policy term. Because it covers a defined window — 10, 20, or 30 years — it carries the lowest premium of any life insurance, making it the workhorse of income protection for working families.
Most families use term to cover the years with the highest financial responsibility: a mortgage balance, dependent children, and the years left to retirement. When the term ends, you can convert to permanent coverage without re-underwriting, or let it lapse once your needs change.
We match the term length and coverage amount to your actual obligations — not a one-size number — and layer it alongside your other protection so there's no gap as life changes.
Key Benefits
- Lowest cost per dollar of coverage of any life insurance
- Tax-free death benefit paid directly to your beneficiaries
- Convertible to permanent insurance without a new medical exam
- Level premiums locked for the full term
- Living Benefits rider — access the death benefit while living
Living Benefits
Living Benefits let you access a portion of your death benefit while you're still living — if you face a terminal, critical, or chronic illness. They add protection beyond the death benefit alone, at no additional out-of-pocket cost beyond the rider. Availability, qualifying conditions, and acceleration amounts vary by carrier and state.
Terminal Illness Benefit
If you are diagnosed with a terminal illness with a life expectancy of 12 months or less, you can access a portion of the death benefit early — while you're still living — to cover medical care, hospice, final arrangements, or family support. The remaining benefit passes to your beneficiaries as intended.
Critical Illness Benefit
If you suffer a qualifying critical illness — such as a heart attack, stroke, or invasive cancer — you can accelerate a portion of the death benefit to help pay for treatment, recovery, lost income, or household expenses while you focus on healing.
Chronic Illness Benefit
If you become chronically ill and are unable to perform two of six activities of daily living (bathing, dressing, toileting, transferring, continence, eating) — or suffer cognitive impairment — you can access a portion of the death benefit to pay for in-home care, assisted living, or a nursing facility, helping protect your savings from extended care costs.
Interested in Term Life Insurance?
Share a few details and a Lionheart advisor will reach out to answer your questions and see if term life insurance fits your plan.
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