TERM LIFE INSURANCE

 What Is Term Life Insurance?

Term life insurance is a type of life insurance policy that provides coverage for a  specified "term" of years.  If the insured dies during the term period and the policy is active, then the death benefit will be paid.

Term insurance is initially the most cost effective form of life insurance as the insured is paying premiums for a specified period of time unlike a whole life or universal life policy where the insured pays premiums for their lifetime.

Key Features:

• Term insurance is a type of life insurance that provides coverage for  a specified period of time such as 10, 15, 20 or 30 years
• If the insured dies during the specified period of the policy, their beneficiary will received a death benefit
• Most term policies feature a level premium for the life of the policy
• Many term policies can be converted to a permanent policy during the term period