Term life is an affordable life insurance option for many young families, offering death benefits at for inexpensive premium over a specified period of time.
How Does Term Life Insurance Work?
Term life insurance provides coverage for a specified time period, generally between 10 and 30 years. During the time period your rates and coverage remain the same. Term life policies have lower premiums compared to permanent life insurance policies and are a great way to ensure your family receives death benefits if something happens to you during the coverage period.
Unlike permanent life insurance, term life doesn’t provide lifelong protection. Term life provides a benefit if the owner of the policy should die within the covered term. Because term coverage only lasts as long as the specified term - usually a period of 5, 10 or 20 years, term is the most affordable life insurance option.
Term Life Benefits