There are a few good things about buying term life insurance protection, including:
- It's Cheap - Term life offers the lowest rates on life insurance.
- It's Flexible - term life allows you to choose coverage lasting for a period of 10, 15, 20 or 30 years to meet your specific needs.
- It's Easy-to-Understand - With term life you have life insurance lasting for the term of your policy. It you outlive the term, your coverage ends. If you pass away during the term, the death benefit is paid out to your beneficiary.
Term life is pure protection, meaning you only pay for the life insurance. It affords you the most life insurance protection for your money.
If you're on a budget, or need life insurance for 30 years or less, term life may be a good option for you.