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 ?
Therefore, term life insurance policies have a lower premium.
Term life insurance policies are initially less expensive than an equivalent face amount of cash value insurance (also referred to as permanent insurance).
Term life insurance policies are generally less expensive than other types of coverage.
Ladder is selling fully underwritten term life insurance policies worth up to $8 million.
I personally would love to sell more term life insurance policies to young couples.
FRAC reinsures term life insurance policies issued by Primerica Life Insurance Company of Canada, a subsidiary of Primerica Inc.
FRAC reinsures a block of term life insurance policies issued by Primerica Life Insurance Company of Canada, a subsidiary of Primerica, Inc., which were in force as of December 18, 2009.
Under the program, MassMutual will issue free $50,000 term life insurance policies to the qualified clients of PROTECTION FROM ABUSE.
While HSAs will be covered by the new rules, certain related products, such as health, disability and term life insurance policies, are expressly excluded from the definition of investment property and are thus not subject to the fiduciary standard.
Citigroup Inc (NYSE:C) on Friday revealed that Primerica Life Insurance Company's re-insurer Prime Reinsurance Company Inc was replaced by a subsidiary of Swiss Re Life & Health America Inc, on a coinsurance agreement covering a block of term life insurance policies that were in force on 18 December 2009.
Although group term life insurance policies are sometimes used for charitable purposes, the large majority are the various flavors of permanent policies, such as whole life, universal life, variable universal life and indexed life.
(In long term life insurance policies, there is no profit in the first year premium, due to the commissions and expenses involved, but these reduce over successive years.) By now, most private life insurers have built a critical mass of policyholders and the business is paying back.