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- DictionaryTerm life in·sur·ance
noun
- 1. life insurance that pays a benefit in the event of the death of the insured during a specified term.
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Mar 13, 2024 · Term life insurance is a contract between a policyholder and an insurance company that says if the insured person passes away within the time period of the policy, the insurer will...
Mar 28, 2024 · A term life insurance policy is a contract that lasts for a set period of time (usually between 10 to 30 years) where the insurance company pays your beneficiaries a lump sum if you die while the policy is active. By.
Nov 3, 2023 · Term life insurance is a type of life insurance policy that lasts for a predetermined number of years rather than your entire life. When purchasing a term life...
Mar 25, 2024 · Key takeaways. Term life insurance is designed to cover your financial obligations if you die unexpectedly. A term life policy is an affordable life insurance option that works...
4 days ago · Term life insurance is a type of life insurance policy that has a specified end date, like 20 years from the start date. The death benefit will only be paid out if the insured dies...
Apr 23, 2024 · Term life insurance is a type of temporary, short-term life insurance that pays a death benefit to your beneficiaries should you pass away while the policy is in effect. A death benefit is a monetary sum that can provide a safety net to your family and loved ones in the form of some financial security upon your passing.
Jan 5, 2024 · Unlike permanent life insurance, which lasts your lifetime, term life insurance covers a 10-, 20-, or 30-year period. If you die during that period, your beneficiaries get your...
