Term Life Insurance

A Term Life Insurance policy will only stay active for a specific number of years, after that last year passes the policy expires. You can choose from a 10,20,30, or 40 year policy. Prices are going to be much lower than a permanent policy due to the policy only staying active for a specific number of years.

Term Insurance with conversion:

This is a policy you purchase for a specific number of years 10,20,30, or 40. Anytime while the policy is active you have the option to switch the policy to a permanent policy that could last until age 100. The premiums will be a little higher than a plain term, due to the conversion option. The conversion option is most helpful if you become uninsurable, (or not able to buy life insurance/ for example: develop a serious health issue) during the life of the term policy. When this policy is purchased the insurance company will let you convert your term policy to a permanent policy with no health questions during the conversion period (generally prior to age 65).

Term with ROP or (return of premium):

Term Life Insurance with ROP is a popular policy among people with children. You can choose a term length of 10,20,30, or 40 years. After your term is up you can choose between 2 options. 1. The insurance company will take the money you have paid in premiums and offer you a paid-up life policy that you DO NOT have to pay premiums on and will stay active forever. 2. OR receive all the premium you paid in and get it back in a lump sum to pay for a Childs college tuition, buy a car, pay off debt etc.

Call today to speak with one of The Insurance Shop, Inc.'s insurance professionals today to see if term life insurance is right for you.

Click here for a free term life insurance quote


Odon Office
204 W Main
Odon, IN 47562

Loogootee Office
200 E. Broadway St.
Loogootee, IN 47553

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