Term life insurance

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Term life insurance

A contract that provides a death benefit but no cash build up or investment component. The premium remains constant only for a specified term of years, and the policy is usually renewable at the end of each term.

Term Life Insurance

A life insurance policy that provides coverage only for a certain period of time. A term life insurance policy provides a benefit upon the death of the policyholder, but ceases to provide this benefit if he/she is still alive when the policy expires. Upon expiration, the policyholder may decide to renew the policy or let it lapse. If the policy lapses, the policyholder is not reimbursed for the premiums paid over the life of the policy. A term life insurance policy does not include some of the other benefits of a whole life policy, such as a savings component.
References in periodicals archive ?
But so are other benefits that are treated like cash - for example, vacation pay, group term life insurance coverage in excess of $50,000, or other benefits that do not satisfy the nondiscrimination rules of Section 125.
Group term life sales declined by around 2 percent in 2011, to just under $2.
Aetna Student Health Group Term Life Insurance coverage runs through the whole year, including the summer.
2% GROWTH IN TOTAL GROUP TERM LIFE INFORCE PREMIUM IN 2010
Colonial Life's new group term life plan offers the following benefits and features:
Contact To learn more about group term life plans from Standard Life and Accident Insurance Company, please contact Debie Knowles, Vice President, Marketing at debie.
The Company's extensive portfolio features group life insurance products ranging from basic coverage, to accidental death and dismemberment, dependent life, retiree life and group term life.
Reliance Standard specializes in innovative and flexible employee benefits solutions including disability income and group term life insurance, a suite of voluntary (employee paid) coverage options and fully integrated absence management.
Tenders are invited for group term life insurance policy in terms of financial assistance scheme for coverage of employees against risks of death/total permanent disablement
com, one of the nation's newest and most innovative health plans and a leader in providing value-based benefit plans to small and mid-sized employers, announced a partnership with United Heritage Life Insurance Company, which has offered a strong portfolio of life and other products to businesses since 1934, to make group term life insurance policies available alongside its group medical plans in California and Colorado beginning November 16.
Among other feature Lincoln's Small Benefit portfolio includes Group Term Life Insurance and Accidental Death & Dismemberment: