Dakota Capital Term Life Insurance Overview

Prairie Term Life Series®

What is Term Life Insurance?

Term life insurance covers a set period of time to help financially protect your loved ones. If you die during the set term, your beneficiaries receive a lump sum payment for the face amount of your policy.

You choose the length of your term when you buy the policy. Dakota Capital offers terms of 10, 15, 20, 25, and 30 years. The death benefit and the premium remain the same throughout the term with our policies.

When you take out term life cover:

  • Choose a term that meets your financial needs.
  • Choose an amount that will protect your family if you could no longer provide for them.
  • The cost of a term policy is based on your age – the younger you are, the cheaper your premium. That means it’s important to take out a policy sooner than later!
  • The death benefit the beneficiary receives is tax free under current law.

Term insurance is designed to meet temporary needs. It protects your loved ones for a specific period of time and only pays out if you die during the term. It makes to take out this type of insurance often if you need for coverage now, but might not in the future.

For example, you may decide you want coverage until your child graduates or a particular debt, such as your mortgage, is paid off. You can even get coverage for your business’ key employees or as part of a Buy/Sell agreement.

Make sure to pick a term length that will expire when your need for life insurance will end. Unsure what term length to take out? The best way to determine the amount and type of life insurance that makes sense for you is to talk with us.

Dakota Capital Offers Two Types of Term Coverage:

Simplified Issue Term Life: policies offer coverage from $50,000 to $250,000 for people aged 18 to 65 without the need for a medical exam. No doctors, needles, or invasive exams. This policy offers 10, 15, 20, or 30 years of coverage depending on your age at the time the policy is issued.

Traditional Term Life: policies offer coverage beginning at $100,000. This policy requires a medical exam that we arrange and schedule when it fits your schedule. The medical exam and rate classes offer you the most competitive rate. This policy offers 15, 20, 25, or 30 years of coverage depending on your age at issue.

Quick & Easy Application Process

The application process is simple and easy. Once you’ve submitted your application, our underwriters will evaluate your information and schedule a medical exam if required. Once the underwriting is complete, our team will let you know the results and decision on your term life insurance application.

You Choose Your Term Length

A good guideline to follow is to purchase as much coverage as you can afford for the longest period of time you can get. If you have children, a popular rule of thumb is to choose a term long enough to see them until they’ve left home and are through their formal education.

It’s usually best to purchase a longer-term policy than a shorter one, because you never know what the future holds and it’s typically easier (and less expensive) to get insurance when you are younger and in good health. You never know when a condition may come up that could make you uninsurable.

You can always stop paying your premiums and allow the policy to lapse if you no longer require coverage, but a longer term offers protection if you develop a medical condition that might affect your insurability.

Name Your Beneficiaries

As the owner of your policy, you decide who receives the death benefit if you die. You can choose more than one beneficiary if you wish. While beneficiaries are typically family members, they don’t have to be. You could choose to leave some or all of your benefits to a trust, a charitable organization, or even a friend.

Getting Set Up is Simple and Affordable

Apply in minutes. You’ll be surprised just how affordable and comprehensive Dakota Capital insurance really is.

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