What is term life insurance?


Term life insurance is low-cost, easy-to-understand and coverage that gives you flexible, temporary protection.


You will be covered for a specific time frame and the cost of your policy is assured and guaranteed for the term period. In case you die at the same time as the policy is in effect, your beneficiaries will get off a tax-free payment. And, with most policies, you also have the choice to convert your insurance to permanent insurance regardless of any adjustments to your health, occupation or lifestyle.




because term life insurance coverage is a pure death benefit,  its primary use is to provide coverage of financial responsibilities for the insured or his or her beneficiaries. Such responsibilities may additionally include but aren’t limited to, consumer debt, dependent care, university training and education for dependents, funeral cost, and mortgages. Term life insurance may be chosen in favor of life insurance because term insurance is usually much less expensive (depending at the period of the term), even if the applicant is an everyday smoker. For example, a man or woman may choose to attain a policy whose term period expires near his or her retirement age based on the premise that, by the time the person retires, she or he would have gathered sufficient funds range in retirement savings to offer economic protection for the claims.


Other characteristics of term insurance include:

Low cost


No cash value


Usually renewable


Sometimes convertible to permanent life insurance