Term life insurance is life insurance coverage for a specific period of time.
If the insured person dies during the term of the policy the beneficiary receives the death payments.
If the insured survives, and outlives the term of the term life insurance policy, the policy ends and the beneficiary receives nothing.
For example, if an insured with a ten year term policy dies within that period of time, the beneficiary receives the face amount of the term life insurance policy.
If the insured is alive at the end of the ten year term, the policy ends, with no death benefit payable. Learn more about term life insurance.
If the insured person dies during the term of the policy the beneficiary receives the death payments.
If the insured survives, and outlives the term of the term life insurance policy, the policy ends and the beneficiary receives nothing.
For example, if an insured with a ten year term policy dies within that period of time, the beneficiary receives the face amount of the term life insurance policy.
If the insured is alive at the end of the ten year term, the policy ends, with no death benefit payable. Learn more about term life insurance.
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