Term Life Insurance in Phoenix, AZ

To buy the best term life insurance plan and policy in Phoenix, consult with our team of experts at Heroes Financial Group! 

Contact Us

What is Term Life Insurance?

Term Life Insurance is a type of life insurance policy that provides coverage for a certain period of time. If an insured unfortunately passes away during that time period or when the policy is active, a death benefit is paid to the heir or beneficiary of the policyholder. 

Term life insurance cost is much less expensive than permanent life insurance cost because it’s not designed to last the whole life. So, at Heroes Financial Group we look into your plan, and we provide one of the best term life insurances in Phoenix.

The premium you have to pay depends on an insured’s age, health, and life expectancy. There are many term life insurance that lasts 10, 15, 20, and 30 years.

How Does Term Life Insurance Works?

How Does It Work?

There are various types of term insurance policies for different duration or time periods. Paying premiums for the policy as required by the contract, the premium is a specific cost you have to pay, and is charged by us as an insurance provider in order to provide benefits from the policy. The premium is calculated and based on the insured’s age, health, and risk assessment.

A medical exam may be required to see how healthy you are and which policy is suited for you. Premiums are paid until the policy contract ends. If the insured person passes away, then the beneficiary is paid. You can always extend or renew your policy, but the premium will be higher than before, and also another medical exam will take place. Many term life insurance is convertible, which means you can turn them into a permanent policy, such as whole, index universal, or universal life insurance, but the premium will be increased.

Why Should You Buy Term Life Insurance?

  • The premium is very low compared to other insurance plans
  • It provides financial security to your loved ones. An untimely death is unfortunate but it will help your family to combat financial troubles. It will help your family to lead a life where they don’t have to beg or ask for money.
  • It is highly flexible, which is one of the advantages of term life insurance. You can change the plan or customize a term plan, you can extend the plan or you can convert the plan into life insurance.
  • It is tax-free, as your beneficiary or beneficiaries can get the whole lump sum amount without paying a single penny to the government as tax.
  • It is great for young families, as the term life insurance covers only a specific period of time, it is less expensive and young families can buy it.
  • There is no penalty for cancelling your policy, you can walk away from the policy. There are no fees or penalties you need to pay.

You can start planning for this by reading books or browsing through the internet, but nothing will help as much as an expert from our team here at Heroes Financial Group will. We can help you achieve your goals by understanding your needs and wants. 

Getting the best term life insurance is possible if you book the right advisor for yourself. So, look no further than Heroes Financial Group, we have the best advisors on our team. We will help you with the right plans and make your goals far easier to achieve.

Are you ready to be prepared for whatever comes your way? For term life insurance in Phoenix, consult our team of advisors today!