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 ?
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.
Term life insurance is among the devices that a people should consider when they want to provide an immediate estate for loved onces after their death.
Term life insurance currently represents 36 percent of total life insurance sold in the U.
John Hancock Insurance today announced it has re-engineered its term life insurance, providing more consumers with an affordable solution to help with their big financial decisions.
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.
Top term life insurance quote providers perform a valuable service for customers.
An employer may provide employees with up to $50,000 of group term life insurance protection each year without cost to employees.
1) In meeting the twin objectives of family security and reduced cost, most plans offer group term life insurance together with group hospital, surgical, and major medical coverage.
In a term life insurance contract, the beneficiary receives a lump sum amount of benefit support.
THE NEA MEMBERS INSURANCE TRUST[R] is welcoming new members in the 2008-09 school year with $15,000 of term life insurance at no cost.