Term Life Insurance

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Term Life Insurance Life insurance payable only if death of the insured occurs within a specified time, such as 5, 10, 20, or 30 years, or before a specified age. Importantly, term life insurance policies do not possess monetary unless the holder dies within the term. However, term life insurance may be less costly than other life insurance options, such as whole life insurance. At the end of your term, coverage will end and your payments to the insurance company will be complete. If you outlive your term life insurance policy, the money you have put in, will stay with the insurance company. Term life insurance is not a savings or investment plan. These policies have no value other than the guaranteed death benefit and feature no savings component as found in a whole life insurance product. Upon renewal, term life insurance premiums increase with age and may become cost-prohibitive over time. Term life premiums are based on a person’s age, health, and life expectancy. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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