Term Life Insurance
Term life insurance provides coverage for a limited period of time, specified as the term. Term insurance is often the most inexpensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis. When the term is up, the insured can either drop the policy or pay annually increasing premiums to continue the coverage. If the insured dies during the term, the death benefit will be paid to the beneficiary. There is no cash value to term insurance.
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