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term insurance

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Term insurance
Provides a death benefit only, no build up of cash value.
term insurance
A type of life insurance in which the insurance company pays a specified sum if the insured dies during the coverage period. Term insurance includes no savings, cash values, borrowing power, or benefits at retirement. On the basis of cost, it is the very least expensive insurance available, although policy prices can vary significantly among firms. Compare cash-value life insurance.


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