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 ?
Tenders are invited for group term life insurance policy for ifci employee
Term life insurance (or term insurance) only provides death benefit or the face amount for a fixed period of time, let us say, between five to 30 years.
Cornelius, NC, May 09, 2019 --(PR.com)-- Today Financial Independence Group, LLC (FIG) and Thrivent Independent, a division of Thrivent Financial, announced a strategic partnership to connect one of the leading field or insurance marketing organizations with a mission-driven, membership-owned financial services organization to offer Thrivent's term life insurance and multi-year guarantee annuity.
The investigation concluded that Heldt, while acting as an insurance agent, used the identifying information of another individual to complete an individual term life insurance application.
* Term life insurance is simple, cheap and offers coverage for a certain period, such as 10, 20 or 30 years.
This article proposes a solution of partnership with a designated life insurance company to develop a term life insurance product called HerLife.
As a result of the transaction, Aegon will significantly reduce the size of a related captive insurance company and the related letter of credit facility in place to finance redundant reserves, generally referred to as XXX term life insurance reserves.
RADNOR, Pa: Lincoln Financial Group slashed the price of its Lincoln LifeElements(r) Level Term life insurance product to be more affordable for customers ages 30 and older with a death benefit of $1 million and above, and ages 55 and older with a death benefit of $500k and above.
Following the agreement, Bank Sohar now offers Term Life Insurance, Personal Accident Insurance, Critical Illness Insurance and Domestic Helper Insurance, with the plan to further launch three more including Hospital Cash Benefit, Female Cancer Insurance and Education Shield in the near future.
Heller explains to life insurance salesmen how to crack the market for term life insurance to protect a surviving spouse against the loss of Social Security after the death of the first spouse.
While term life insurance doesn't immediately come to mind as a fresh or "innovative" solution, some new options within the category may make this financial vehicle more attractive to younger consumers who are looking for protection, but also have an eye toward needing flexibility as their circumstances change.
Summary: New Delhi [India], Sept 19 (ANI): Online insurance platform Coverfox.com on Tuesday announced the launch of a fresh user experience to term life insurance on its platform, which promises to deal with the eternal user procrastination issue in the product category.