What are the features of a term life insurance plan?
There are several features common to a term life insurance policy, including the following:
1. Term of Coverage - The period of time which you have life insurance protection.
2. Term Options - Usually you can choose a term of coverage of 10, 15, 20 or 30 years.
3. Level Premiums - A level term life insurance policy has premiums that stay the same each year throughout the duration of your term policy.
4. Renewability - You may have the option to renew your term policy for another term (usually 5 or 10 years) when your current term life policy expires.
5. Convertibility - Some term life policies offer you the option to convert your term life insurance policy to a permanent life insurance policy.
Learn more about common features of term life insurance.
There are several features common to a term life insurance policy, including the following:
1. Term of Coverage - The period of time which you have life insurance protection.
2. Term Options - Usually you can choose a term of coverage of 10, 15, 20 or 30 years.
3. Level Premiums - A level term life insurance policy has premiums that stay the same each year throughout the duration of your term policy.
4. Renewability - You may have the option to renew your term policy for another term (usually 5 or 10 years) when your current term life policy expires.
5. Convertibility - Some term life policies offer you the option to convert your term life insurance policy to a permanent life insurance policy.
Learn more about common features of term life insurance.
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