InsuranceLife Insurance |
What is term life insurance? |
Term life insurance is a type of insurance that covers the insured for a certain period of time or term—10, 20, or 30 years—and pays a benefit to a beneficiary upon the death of the insured. The policy also expires when the term ends, so that if no death occurs during the term period, no payout is made.
No one likes to think about death, especially one’s own demise, but planning for the inevitable is the responsible course of action. Buying life insurance can help protect your family, and you can even borrow on the cash value, if needed.