Term life insurance
What is a term life policy?
Term life insurance with RiS might be right for you if:
Term life insurance is a type of life insurance that provides coverage for a specific period, or term, chosen by the policyholder. It’s typically the most straightforward and affordable life insurance option by covering you for a set "term" (life insurance terms are typically 10 to 30 years). If you pass away during the term period, your beneficiaries receive a cash payment, called a death benefit.
Unlike permanent life insurance policies, such as whole life or universal life, term life insurance does not build cash value over time.
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Your loved ones would need to replace lost income while raising children or paying a mortgage. Whether you’re the breadwinner or a contributor to the family finances, your loss of income could mean a big lifestyle change for the people you leave behind. A term life policy can help avoid that.
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You have short-term financial responsibilities such as loans, a new business, or credit card debt. The last thing you want to do is leave debt behind for your family to have to deal with. A term life insurance policy can make sure your obligations are taken care of.
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You want the most affordable life insurance coverage. If you’re on a budget but still want life insurance protection, a term policy is typically the most affordable.
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You appreciate the straightforward nature of term life insurance. Same fixed premium for a set term, and you know what the death benefit payout is – there are no surprises or complex things to manage.
Is a term life insurance policy good for me?
Term life insurance is a straightforward and cost-effective solution for individuals seeking affordable protection during specific periods of their lives. It's important for individuals to carefully consider their financial goals and needs when choosing the duration and amount of coverage that best suits their circumstances.
That said, there are a few reasons that many people choose to get a term life policy. First, it’s generally more affordable than permanent life insurance, especially in the early years of coverage. This makes it an attractive option for individuals who want significant coverage at a lower cost, particularly during times of higher financial responsibility.
The other key advantage is that premiums for term life insurance policies are fixed for the duration of the term. This means that the policyholder pays the same premium amount each year, providing predictability for budgeting purposes.
What's the difference between term and whole life insurance?
If you’re considering life insurance, term policies use premiums to cover you for the determined "term" of the policy, expiring if not claimed within that time frame. Whole life insurance can last your entire life if premiums remain current. Whole life policies also have the potential to accrue cash value, depending on the policy. Still, premiums typically cost between five and 15 times more than a term life insurance policy for the same benefit amount.
A term life policy may provide a good match for someone seeking affordable coverage to replace lost income over a critical period, such as while raising children or paying off a mortgage. Whole life insurance offers options for those with more complex financial situations or someone desiring the security of lifetime coverage.
Coverage you can trust
RiS term life policies are backed by established life insurance companies like Legal & General America, Ameritas Life Insurance Corp., and TruStage®. By combining RiS' streamlined application with their coverage, we've shortened the application process to minutes, compared to weeks with traditional applications. With RiS, you get the dependability of major insurers and the convenience of modern technology.
Why purchase with RiS?
Why purchase with RiS?
Expert advice
With a big financial decision, you may have some questions. You don't have to talk to an agent if you don't want to, but if you do, our licensed agents remain ready and eager to answer your questions. They're here to help you find the right life insurance term insurance policy for you.
Fast process (no medical exams)
Our 100% online and hassle-free process makes it easy to apply. What traditionally took weeks can now be done in minutes, and you don't even need a medical exam (just answer a few health questions).
Flexible coverage
With a term policy, life insurance can cover you anywhere from $20,000 to $2 million in protection. Ethos has policies for 10-, 15-, 20-, and 30-year terms so you can find the perfect timeline for your needs.
Free-look, money-back guarantee
Take your term life insurance policy for a trial run with a 30-day money-back guarantee. If you're not fully satisfied in the first 30 days, we'll refund you in full. After that time, you can cancel your policy with no cancellation fees.
Frequently asked questions
How to purchase a policy
Choose coverage
Choose a policy that’s right for you. RiS offers a range of coverage and term length options, so you can personalize your coverage to fit your needs.
Apply online
After you choose your plan, complete our online application. It’s simple, straightforward, and it only takes about 5 minutes.
Activate your coverage
Once your application is submitted, we’ll process the information to provide you a quick (sometimes instant) decision on coverage eligibility and your rate. If approved, you can activate your coverage immediately.
