What does “Term Life Insurance” mean? And is it a good plan?
September 17th, 2010
Question by wzrdsndrgns: What does “Term Life Insurance” mean? And is it a good plan?
Best answer:
Answer by deep5223
Term life means it is for a specific term such as 10 years, 20 years, etc. If you die during the term, the insurance company will pay your beneficiary the face amount of the policy. If you live past the term, you have no insurance unless you renew at a higher rate. You can purchase much more coverage in term than in whole life. It is good if you are looking for a lot of protection for a small premium.
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