Term Life Insurance

Term Insurance is usually the most affordable type of coverage. The term of the policy usually lasts between 1 and 30 years and pays only if a death occurs during the policy term. Most term policies have no other benefit provisions. Term policies can be level term which means the death benefit will remain the same throughtout the duration of the policy, or they can be decreasing term which mean the death benefit drops over the course of the policy's term . When the policy term ends, you may or may not qualify for new coverage based on your health, and based on your age, the cost of the premium may be too high to be affordable.