What term length is right for me?
Are you at the stage where you’re young with a growing family, is your mortgage almost paid off, or are you nearing retirement? CAA Term Life Insurance offers three different term lengths to suit your priorities at different stages of your life.
Just starting or nearing retirement?
Enjoy short-term coverage that’s budget friendly. Whether you’re just starting off or getting ready to retire, a 5-year term life plan can offer low-cost protection that fits this important time in your life.
Married with older children?
Choose longer-term coverage that could save you money in the long run. If your children are grown, a 10-year term life plan can give you access to lower rates while you’re still young and healthy. A bonus: you’ll pay less in premiums over a longer period of time.
Married, have a young family, or own a home?
Think long-term financial security for your loved ones. There will never be a better time to get better rates than when you are young and in good health. If you’ve got a young family or own a home, a 20-year term life plan can give you lower rates and security over the long haul.
How much should I buy?
Experts recommend that you buy 7 to 10 times your annual salary in life insurance, to replace lost income. But your best bet is always to speak with a licensed insurance advisor who can walk you through your choices and help you make a decision based on your life stage and priorities.