Define Term Life Insurance at Life

Define Term Life Insurance. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different. Depending on the contract, other events such as terminal.

Insurance for a specified period that provides for no payment to the insured except on losses during the period and. If you die before the term is over, the insurance company will pay the death benefit (also called payout ). Term life insurance is a policy which provides financial coverage during a set amount of time.

Mutual Fund Definition Investing Stock, & Hedge Fund

What is term life insurance? First, initial premiums for term insurance policies are lower than for permanent forms of life insurance. The defined terms and coverage provisions in your policy or certificate of insurance, such as reasonable and customary, may be different from the general information provided below, and the policy or certificate language will prevail. Life is beautiful, but also uncertain.