What is term life insurance? Term life insurance provides coverage for a specified period of time, which usually ranges from 5-30 years depending on your need for coverage. A death benefit (coverage amount) is determined when the policy is applied for, and the beneficiary receives the death benefit if the insured individual dies while the policy is in force. Premiums on a guaranteed level term policy remain level for the duration of the policy. A non-guaranteed policy’s premiums will typically remain level for a pre-disclosed period of time and then increase after that.

Tags: ppp

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