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TERM LIFE INSURANCE

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What is term life insurance?
It's life insurance that you pay for over a specified length of time, or term - generally one to 20 years. The amount of the death benefit or face value can be selected to meet your needs. Premiums, or payments - which can be the same amount or increase over time - must be made monthly, quarterly, semi-annually, or annually. If you die during the term of coverage, the face amount of your policy will be paid to your beneficiaries.

Why would I want it?
Because you want to ensure that your family will have what you're working so hard to provide - a home, a college education, the resources to live in comfort - should something happen to you. A term policy provides an excellent opportunity for you to do this - even if you're just starting out - because such policies do not accumulate cash value and usually offer lower premiums than other life insurance products with the same face value.

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GLOSSARY OF LIFE INSURANCE TERMS

C Cash Surrender Value
The amount of money an insurance policy is worth, which the policyholder would be entitled to at cancellation. This amount is net of any surrender charges or policy loans. Term life policies do not accrue cash value.

F Face Value
The death benefit amount of a life insurance policy.

L Lapse
The effect on an insurance policy if a premium has not been paid by the end of the grace period.

P Premium
The cost of an insurance policy, which is paid monthly, quarterly, semi-annually, or annually.

T Term Life
Life insurance paid for over a specified length of time. that provides a death benefit if the insured person dies within the term of coverage.
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At John Hancock, our focus is helping you prepare for the future so you have what you need to fulfill your promises for tomorrow. Started as a life insurance company, today John Hancock is a leading financial service provider delivering access to products that help you to realize the future you promise yourself and your family. John Hancock provides very competitive insurance, investment and retirement products - including long term care insurance, whole term life insurance, Annuity products, investment products and more - to help you get where you want to go. Offering everything from 401(k) plans, 529 plans, retirement planning services, estate planning services and more, John Hancock provides a broad range of products that you and your financial planning services provider or certified financial planning firm can use to help you to accomplish your promises and meet tomorrow with confidence. And if you think you might like to work in financial services, careers at John Hancock offers rewarding opportunities to help others achieve their hopes for the future.