The insured pays a premium for a specified number of years describes the best Term Life Insurance.
The article will go into detail about what term life insurance is and how it can protect you against any financial hardships that life throws at you. It will cover who needs a policy, how much it costs, and more of the finer details of this type of insurance. Feel free to go into detail about what family might need this type of insurance and how it protects against any financial hardships that life throws at you.
Term life insurance – is a type of life insurance that provides coverage for a certain period- usually 10, 15, or 20 years- with no cash value if not used up by the end. It often provides a death benefit, but this is a “form” of coverage, not the only kind. Most basic forms of coverage have no cash value at all.
However, in the case of term life insurance (also known as term-until-age-x or ‘term’ life insurance), there is no cash value; if you do not use up the insurance within some set period (known as the ‘term’), then you will lose all your premiums. This is different from permanent life insurance, where the policy will build up a cash value. There are different types of term insurance policies that each provide protection for different periods of time and each has a unique set of terms to be met.
Which of the following best describes a term life insurance?
- The insured is covered during his or her entire lifetime.
- The insured collects interest on the value of the policy.
- The insured pays a premium for a specified number of years.
- The insured pays the premium until his or her death.
Ans – 3) The insured pays a premium for a specified number of years.
It sounds like you were looking for the definition of term life insurance. A term life insurance is a type of life insurance that is sold for a specific period of time, such as five years, ten years, or one year. Review the answers we provided to see if this is more of what you were looking for.