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MCD Financial Services online is not associated with any insurance or investment company. Thus, with the term life insurance we propose, our customer get the right benefit of his personal term life insurance.

Term life insurance premiums are generally set close to the actual cost of insurance. Term life insurance plans generally have no cash value although they may include a cash back feature.

With term life insurance, the longer the term of coverage is, the higher the payments will be. For example, a twenty year term life insurance plan will have a higher payment than a 30 year plan. It is important to note that the guarantee period for term life insurance is of great importance. Most times, if a 30 year term life insurance plan is priced lower than a twenty year term life insurance plan it usually indicated that the 30 year term life insurance is not guaranteed for the full period.

In most cases term life insurance is renewable. However, your term life insurance plan will be renewed at higher to much higher premiums.

Decreasing term life insurance is an option often used for mortgages. We do not recommend decreasing term life insurance for mortgages as it tends to be more expensive, it is not renewable and often not convertible . We highly recommend that you use level term life insurance to cover your needs.

A term life insurance may also be convertible. Term life insurance can usually be converted up to a certain age or before a predefined number of years. Most common options are:
      Term life insurance converted to a universal life,
       Term life insurance converted to whole life insurance,
       Term Life Insurance converted to an Index Life Insurance,
       Term life insurance converted to other types of permanent cash value life insurance policy. It is important to note that your term life insurance can, in most instances, be converted regardless of your health status.