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Hazel Said:

What does Term Life Insurance mean with no surrender value?

We Answered:

Term life insurance doesn't build any cash value. At the end of the term, you may be able to renew it or convert it into another life policy. If you die during the term, your beneficiary gets $100k. If you cancel the policy at anytime, you get no money back. You may get a refund of excess premiums you paid (depends on how often you pay, such as yearly payment).

I don't know your situation, but $100k coverage seems small. In the area I live, the average face amount my company issue is around $500k (national average is $275k) on husband and wife for a total coverage of $1 million.

Anyway, you might want to recheck if $100k is enough to cover your family's finances and also check if 15 years is all you need to build wealth for retirement.

Michele Said:

who should I call to get term life insurance from?

We Answered:

Since you want advice, you'll need a local independent agent who represents lots of different insurance companies.

Before you contact them, you'll want to very carefully think about what, exactly, you want the insurance to DO for you. Then you buy the product that gets the job done at the cheapest price, from an A rated company. Don't be oversold . . . you only need what gets the job done.

That's why it's important to set the goal FIRST.