term life

listen to the pronunciation of term life
İngilizce - İngilizce
The simplest form of life insurance, it generally offers no cash value feature You pay a premium and the company promises to pay your beneficiary if you die The policy lasts for a specified length of time or "term," such as 1, 5, 10, 15, 20, 25 or 30 years, or to a designated age such as 65 or 100 If you are living at the end of the term, the policy expires unless the company agrees to renew it Renewal premiums are based on your attained age
A term life insurance policy provides temporary protection The benefit only pays if the policyholder dies within a specified period of time It is also a renewable policy which means at what ever renewable term you buy (i e 1 year) you have the option to continue the policy or cancel A term policy is frequently used to provide additional temporary coverage for someone who has children Once the children are grown you might not need the extra coverage Another reason for extra Term life coverage is to pay off a mortgage if a spouse does not live to do so will increase as you get older each renewal time and you are not investing the premium like a Whole Life or Universal Life policy Term Life is cheaper and works the same as any other life policy but you are not investing your money
The simplest form of life insurance, in which an insurer promises to pay a certain death benefit if you die during the term for which the policy is in effect Types include annual-renewable and level-premium term BACK TO TOP
Life insurance where a benefit is paid if the insured dies in a specified period of time Most group life insurance policies are term life policies because the benefit is paid only if the insured dies while employed by the employer providing the policy
policies that pay a death benefit but do not build up cash value These are normally guaranteed renewable for a specified period of time, or up to a certain age, although premiums can escalate sharply Some term policies keep premiums flat for specified periods such as five or 10 years
In term-life insurance, a benefit is only paid if death occurs during the term Once the term expires, there are no remaining cash values or benefit obligations top
term life