However, the most popular type is level term life insurance because it offers affordable protection, and the premiums never increase during your policy term, while the amount of life insurance provided by the policy remains level throughout the life of your policy.
It's flexible, offering you the option of life insurance lasting for a period of 10, 15, 20, 25, 30, 35 or 40 years.
Your life insurance coverage is easy to understand. If you die during your policy term, the death benefit is paid out to the beneficiary of your policy.
If you outlive the policy term, the coverage ends with no pay out of benefits.
Learn more about deciding which term policy is best.