1. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    A Term Life Insurance policy is, simply stated, one that provides life insurance protection, usually for a certain period of time, without any "bells and whistles" like cash accumulation benefits that are found in Permanent Life Insurance products.  In short, it is low cost pure protection for you and your family.
    Answered on December 12, 2013
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Generally speaking, Term Life Insurance lasts for a "term" of time, whereas Whole Life Insurance lasts your "whole life". Term life insurance usually stays the same price for a set number of years, then it ends, or else it goes way up in price. Because of that price increase, most people buy a new term policy when the term is up, if their health allows. Some term policies allow you to convert them to permanent insurance before the term ends.
    Answered on December 12, 2013
  3. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    Great question! A term policy is a low cost, policy that covers a defined period of time - your insurance at work is a one year term policy, for example, which is why you have to enroll each fall. The terms are typically 5,10,15,20,or 30 years, and usually the price is steady throughout the term period. Once your term ends, so does your coverage. This is the opposite of a "whole life" policy, which will last as long as you do. If you would like more information, please contact me, I'd be happy to help. Thanks for asking!
    Answered on April 16, 2014
  4. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    A term life insurance policy is a type of life insurance with a level premium for a specified number of years. Once the policy is in force the rate is guaranteed level, can't go up for the number of years agreed to by the life insurance company. You on the other hand may drop coverage at anytime. There are many types of term life policies from 1 year annual renewable to 5-10-15-20-25-30-35 years, the rate is guaranteed level regardless of change in health, residence or occupation. The longer the term the more expensive the premium.
    Answered on May 9, 2016
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