Example: You pay $400 each year for 10 years for a $250,000 10 year level term life insurance policy.
You receive $250,000 of life insurance protection for a period of 10 years.
Each year you pay $400 for your life insurance coverage.
If you pass away during the ten year period, your beneficiary (you choose), receives the $250,000 death benefit.
If you are alive when the ten year period ends, there is no payout from your life insurance policy and your coverage expires.
Term life insurance offers the lowest cost option for up to 30 years of life insurance protection.
Learn more about how term insurance works