Term Life Insurance

Term life insurance, is a type of life insurance policy that provides coverage for a specific period (or "term"), such as 10, 20, or 30 years. If the insured person dies during the policy term, a death benefit is paid to the named beneficiary. Unlike whole or universal life insurance, term insurance does not build cash value and only offers pure protection for income replacement or debt coverage needs.​

Term life is usually the most affordable form of life insurance per dollar of coverage, and is often chosen to provide financial protection for beneficiaries during years with significant family expenses, such as raising children or paying a mortgage. At the end of the term, the coverage ends unless renewed or converted to permanent insurance, often at higher cost.