Page last updated 01/02/2023

Term Life Insurance

Get Term Life Insurance

A term life insurance also called temporary life insurance provides protection for a temporary period of time. United Healthcare provides affordable term life insurance coverage. Unlike the other life insurance policies, term policies have no payout after the term expires, and no cash value. However, the value is in death benefit or if insured become critically ill. Other than that, in most matters, as long as the premium is paid on time, insured covered for the duration of the policy.

The period for which United Healthcare Term Life SafeGuard product is issued can be defined in terms of years (10-year term or 20-year term). When a term policy is issued for a certain number of years, it offers coverage from the time it is issued until the conclusion of those years. If you are in search for a term insurance policy that have a renewability provision, United Healthcare offers just that.

Example of Term Life

For example, let’s say that Bill buys a life insurance policy for $200,000 for ten years and names his son Mikey as the beneficiary. If Bill dies at any point during the ten years of the policy. The $200,000 death benefit will go to Mikey. If Bill lives longer than the policy term. The term of the policy is over and nothing is payable. If Bill lets the policy lapse or cancels it during the ten-year term, nothing is paid out: there’s no cash value in the term insurance policy.

Should I buy Term Life insurance?

It’s a great idea for you to purchase term life insurance, just think about it. Think about the financial loss that can happen in the event you pass away or become critically ill. Many people purchase term life insurance for income replacement. Term life insurance is top selected for people who want to cover financial obligations.  

With term life insurance, there is a safety net that may offer funds for paying a mortgage, sending children to college, and other vital expenses if you pass away.