What Is Term Life Insurance at Life

What Is Term Life Insurance. Term insurance is a form of life insurance, which insures against death or terminal illness. Term life insurance is a type of life insurance that lasts for a specific period of time known as a term, which can be a fixed number of years or until you reach a certain age.

Term life insurance is a type of life insurance coverage that expires after a set period or a “term.” until its expiration date, the policy guarantees payment to a beneficiary (or beneficiaries) if the insured dies. What is term life insurance? When you buy a term life insurance plan, you pay a monthly premium in exchange for a set amount of coverage that will last for a defined term.

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Term life insurance covers the policyholder for a set term or period. If a policyholder dies before a term is over, their beneficiaries will receive the death benefit or insurance payout. A term insurance plan is the most affordable form of life insurance cover. Term life insurance is just what its name suggests.