Marble Insurance Services, LLC
Life Insurance
Term life insurance, also called temporary insurance, covers a person against death for a limited time, the term. For example, the term might be until children are grown, or until college is paid for, or until retirement. You pay for the policy period and at the end of the term, the contract or policy expires. If no claims are made against the policy during the term, you don't receive any benefits after the policy expires, just like auto or homeowners insurance.
Term insurance is generally designed to give you pure protection and nothing else. Term insurance is the least expensive way to provide your family with the financial security and cash they need upon your death.
As the name suggests, the insurance contract is for a specific term...an agreed number of years. You are scheduled to pay the same premium for a specific term. If you die during the term, your beneficiary will receive the stated amount of the contract.
- Renewable gives you the ability to renew your policy at the end of the initial term for another term at a different premium.
- Convertible guarantees you the ability to convert your coverage at anytime during the term, to permanent life coverage, irregardless of your health conditions; at new premium rates at the time of conversion.
- Whole life insurance, also called permanent insurance, is permanent and does not expire (assuming you continue to pay the premiums). It provides coverage similar to term life insurance, but it also provides an investment vehicle. A portion of the premium goes for life insurance, while the rest goes into an investment account. This account can be either an interest bearing account or a variable (stocks and bonds) investment account.
Call 408-778-5531 to speak with one of our friendly Customer Service Representatives.