1. 15645 POINTS
    Edward HarrisPRO
    Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US
    Term life insurance provides inexpensive coverage for a specified number of years. During this time, typically, the rate and face amount of coverage are guaranteed not to increase.

    When this period of time is over (usually 10, 15, 20 or 30 years), you can re-apply for a new policy at your current age. Sometimes you can renew the policy at a guaranteed rate that is very high.
    Answered on May 16, 2013
  2. 0 POINTS
    David RacichPRO
    Fountain Hills, Arizona
    Term life insurance is temporary coverage to indemnify beneficiaries against economic loss at the death of the insured. T.E.R.M. = Temporary Expense Reimbursement Money. The term life insurance market offers guaranteed coverage for a specific duration of time: 5, 10, 15, 20 and 30 years. 
     
     
    Answered on May 16, 2013
  3. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    Term Life insurance is a life insurance solution product that provides a death benefit for a certain period of time, usually 10, 15, 20 or 30 years. It is a pure death benefit product meaning that there are no provisions for cash accumulation within the contract. In many cases, the policy has a provision that enables you to convert all or a portion of it into permanent coverage without having to prove insurability or undergo and physical examination.
    Answered on September 8, 2014
  4. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Term life insurance is life insurance that has the premium locked in for a set number of years. Most term life policies guarantee that the premium will not go up, and the face amount will not go down, while the policy is in effect within this term of years.
    Answered on September 8, 2014
  5. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Because the death rate remains stubbornly at 100%, a term life policy addresses the problem of when a person might die. The term is the period of time that the company offers to pay the death benefit for the agreed premium. Often there are other incentives and provisions in the policy. However, basically the insurance is for a period of time. That might be quite appropriate in a wide variety of cases, like a long term debt or the child-raising years. It is pure cost if the insured lives past the term.
    Answered on September 8, 2014
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