➜The ONE Thing
Posts
➜The ONE Thing: The Hidden Power of Term Insurance

➜The ONE Thing: The Hidden Power of Term Insurance

How this affordable tool can solve big problems—protect your family, your business, and your legacy... without overpaying.

Mark Halpern
May 27, 2025

Welcome to The ONE Thing! We know you're busy, and long, complicated newsletters aren’t practical. That’s why we bring you The ONE Thing. It’s One, clear, actionable insight in each edition—straight to the point. No fluff, no filler — a smart strategy you can apply immediately to protect your future and make your impact that much greater.

This first group of newsletters will cover "The Basics"—helping you understand how life insurance works and why it’s essential.

The ONE Idea: Life Insurance Comes in Two Main Types

There are two main kinds of life insurance:

Term Life Insurance – A rental. Affordable, simple, and covers you for a set period. Becomes increasingly expensive after each renewal and can be converted at any time into permanent life insurance without a medical.
Permanent Life Insurance – An asset. Lasts a lifetime, can build net worth through equity in the Cash Surrender Value (CSV).
In this edition, we’ll focus on Term Life Insurance. (Next edition, we’ll dive into Permanent Life Insurance.)

How It Works: What is Term Life Insurance?

Term life insurance is the most straightforward and cost-effective way to protect your loved ones or business.

You choose a term (10, 20, or 30 years or level term to 100).
You pay a fixed premium for that term, either monthly or annually. It renews after the term for a higher paid premium, usually 3x-8x.
If you pass away during the term, your beneficiaries receive a tax-free payout.
Term insurance can be converted partially or fully without any medical evidence into a permanent policy.

💡 If you outlive the policy, it simply expires—like car insurance.

Who is Term Insurance For?

✔️ Business Owners – Protect your company against financial loss if something happens to you.
✔️ Parents & Families – Ensure your spouse and kids are financially secure.
✔️ Homeowners – Cover mortgage payments if you’re not around.
✔️ Young Professionals – Lock in low rates while you're young and healthy (rates are affected by age and health)

Example 1: Protecting Your Family

David, 35, is a father of two and owns a successful marketing agency.

He takes out a $1 million, 20-year term policy at $52 a month to ensure his wife and kids are covered.
If something happens to him, they get a tax-free $1M payout to replace lost income.
By the time he reaches age 55 (where premiums will rise to $800/month), his kids are grown, and his investments can cover his family’s needs. He may not need term coverage any longer and may consider converting his policy into permanent coverage.

❝

For just a few dollars a day, David locks in peace of mind.

Example 2: Protecting a Business

Sarah, 42, co-owns a construction company with a business partner.

They take out $500K term policies on each other at $35 a month to ensure the company can continue if one of them passes away.
If Sarah passes away, the payout helps her partner buy out her shares and keep the business running.
No financial burden on Sarah’s family.

❝

Business continuity matters—term insurance makes it simple.

Two business women talking about sales in office at desk with laptop

Why Term Insurance?

✔️ Affordable – Lower cost than permanent insurance.
✔️ Flexible – Choose the right coverage for your needs.
✔️ Essential for Financial Planning – Protects your family or business.