Term Life Insurance is generally a long term form of insurance covering the policy holder for a number of scenarios. The normal form of Term Life insurance is a one year policy that would cover named beneficiaries in the unfortunate event of the policy holder dying during the term of his or her insurance policy.
Posts Tagged Beneficiaries
Term Life Insurance
Jun 10
Term Life Insurance
May 31
The simple explanation is that term life insurance is just raw, basic insurance. It pays cash to the beneficiaries upon the death of the insured person. Until that death occurs, the policy has no actual cash value. You can’t borrow against a term life policy and if you stop paying the premiums, you’ll have nothing to show for the premiums you’ve already paid.