Simple Term Life Insurance
Understanding Simple Term Life Insurance
Protect your family with coverage that lasts as long as you need it.
Premiums stay the same during the initial 10-, 20-, or 30-year period listed in your policy,3 and our simplified and accelerated application process streamlines the steps, saving you time out of your busy day.
A Simple Term Life insurance policy provides a cash payment to your beneficiaries if you die before the end of the policy term and your premiums are paid up,4 so you know your family is taken care of.
- $75,000 to $150,000 of coverage
- Convertible to lifelong coverage that builds cash value, regardless of health
- No lengthy forms, medical exams or lab tests required, however, issuance of a policy may depend on answers to questions set forth in the application.
How Simple Term Life insurance can help you:
Provide coverage for short-term obligations
Simple Term is intended to cover obligations that end, such as mortgages, car loans, college tuition or replacing lost income.
Simple Term Life Insurance FAQs
How long will it take – really?
The electronic application has simple questions and an electronic signature option that takes just a few minutes to complete. You’ll have an underwriting response by the next business day — and in most cases sooner.
What medical information do you need?
Simple Term has an innovative underwriting process that allows us to make an underwriting decision without a medical exam or lab tests, however additional information may be requested.
What happens after my initial policy term?
After the guaranteed level term period, the premiums increase annually. You may be able to convert to a Whole Life policy which also features level premiums as well as lifelong protection — as long as you convert before your term period expires.
Can my policy be canceled because of health reasons?
No. Once you’ve been approved, your policy cannot be canceled as long as your premiums are paid up.
2 Policy form 2005-261 or applicable state variation.
3 Premiums are subject to change after the initial term period. Available face amounts may vary.
4 The death benefit is guaranteed provided premiums are paid per the terms of the contract.
6 For informational purposes only. Neither Yogi Insurance, its employees nor its Agents provide legal or tax advice. Always consult your own attorney, accountant or tax adviser as to the legal, financial or tax consequences and advice on any particular transaction.