What is short term life insurance coverage?
Short term life insurance is also known as "term life insurance" which is a form of temporary life insurance coverage, compared to permanent life insurance, which is life insurance that does not end and provides guaranteed lifetime protection as long as you pay your insurance premium on time.
Term life offers you coverage for a specific period of time. For instance, term life may offer "terms" of 10, 15, 20 or 30 years of life insurance protection.
If you pass away during the "term" of your policy, your beneficiary receives the death benefit from your life insurance policy.
If you outlive the "term" of your term life policy, the life insurance coverage expires, unless you choose to renew your term life insurance policy for another term, which may be a 10 year term.
Short term life insurance costs much less than permanent life insurance and offers the flexibility of allowing you to choose how long you have life insurance coverage.
Short term life insurance is also known as "term life insurance" which is a form of temporary life insurance coverage, compared to permanent life insurance, which is life insurance that does not end and provides guaranteed lifetime protection as long as you pay your insurance premium on time.
Term life offers you coverage for a specific period of time. For instance, term life may offer "terms" of 10, 15, 20 or 30 years of life insurance protection.
If you pass away during the "term" of your policy, your beneficiary receives the death benefit from your life insurance policy.
If you outlive the "term" of your term life policy, the life insurance coverage expires, unless you choose to renew your term life insurance policy for another term, which may be a 10 year term.
Short term life insurance costs much less than permanent life insurance and offers the flexibility of allowing you to choose how long you have life insurance coverage.
RSS Feed
