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 ?
Providing the Only Online Solution for Buying Medically Underwritten Term Life Insurance in Georgia, Illinois, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania and Texas
Tenders are invited for Group Mandatory Fixed Rate Term Life & Accidental Death & Dismemberment Plan
Global Banking News-October 20, 2014--Upromise by Sallie Mae launches new Term Life Insurance product
com)-- The hunt for the best deals on term life insurance has become much easier with the creation of Term-Life-Insurance.
5 billion in total group term life inforce premium, an increase of 3 percent over 2010.
Top term life insurance quote providers perform a valuable service for customers.
In a term life insurance contract, the beneficiary receives a lump sum amount of benefit support.
Now life insurer Axa Equitable is touting the idea for the purchase of term life insurance policies.
Many of you who take advantage of ASAE's group Term Life Plan may have noticed a hefty increase in your latest invoice.
I've found that, on a dollar-for-dollar basis, term life insurance usually offers the best ratio of benefit to cost, by far.
Essentially, there are three types of life insurance: permanent (whole life--ownership), term life and annuities.