Term life insurance is the most basic and least expensive type of life insurance. It is perfect for someone who needs coverage for a specific period of time, such as when they are starting a family or paying off a mortgage.
Term life insurance policies do not build up cash value like whole life insurance policies do, so they are less expensive.
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Term life insurance is one of the most common types of life insurance. It is often used to provide financial protection for a specific period of time, such as 10, 20, or 30 years. The death benefit is paid to the named beneficiary if the insured dies during the term of the policy.
Term life insurance is typically more affordable than other types of life insurance, making it a popular choice for people who are looking for coverage but have a limited budget.