What is Term Life Insurance 3816762268780510832-blid-6821089252464533309

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Term life insurance is in fact the original form of life insurance. It is commonly considered to be a pure form of insurance protection. This is due to the fact that it builds no cash value whatsoever. This is as opposed to the case of permanent life insurance like whole life, universal life and variable universal life. Term life insurance is not permanent. This is because it covers you only for a specific period of time that is the relevant term. If the insured individual dies during that particular term, the death benefit is paid to the specified beneficiary. Since the term expires, many a time the insurer does not have to pay out. This makes term insurance perhaps the most inexpensive way to purchase a considerable death benefit on terms that are on coverage per premium dollar basis.