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Term life insurance is a type of life insurance that covers an insured for a specified period of time. The best example of this is flight insurance - a term policy that covers you only while during the plane trip.

As a comparison, term life insurance is usually cheaper that whole life insurance as whole life builds cash value that you can borrow against, while term insurance does not provide this.

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โˆ™ 2009-12-23 02:07:26
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Q: What 's a term life insurance?
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Related questions

Does Prudential Life Insurance offer term life?

Prudential Life Insurance offers several different type of life insurance, including term life insurance. They offer complete term insurance or supplemental term insurance that can be added on top of any other insurance you may have.


Does all life insurance have no physical term?

No, term life insurance has a term, hence the name.


What is the difference between term life insurance vs whole life insurance?

A term life insurance is during the insurer's life only. When he or she is gone, then the insurance ends. The whole life insurance on the other hand has what the term life insurance covers plus more.


What is the difference between life insurance and term life insurance?

Life insurance is a more general concept that may refer to either whole life insurance or term life insurance. Whole life insurance gathers value the longer you have it, whereas Term life insurance does not obtain any value that you may use before you die. Term life insurance only pays out when you die.


What are the benefits of purchasing term assurance?

Term life insurance will protect the policyholder should his or her life end unexpectedly. Term life insurance is often the cheapest of all available insurance. Usually, term life insurance can be converted to whole life insurance during the term. Whole life insurance will never expire and the rates will remain constant throughout the policyholder's life.


What do you mean by the term life insurance?

Term life insurance is a form of temporary life insurance that provides coverage for a specific number of years. Term life insurance is available for 1-40 years, depending on your health and age. Term life insurance is usually purchased for 1, 15, 20 or 30 years. Term life insurance builds no cash value within the policy. Term life insurance is "Pure Protection". You pay only for the life insurance. If you outlive your policy term, the coverage expires. Level term life insurance is the most common form of term life insurance. Level term offers premiums and coverage amount that remain the same each year for the entire term of your policy.


What is the difference between term and permanent life insurance?

Term life insurance if only for the life of the coverage holder, once deceased the amount is paid to the beneficiary. Permanent life insurance, known as whole life insurance, combines term life insurance with an investment option.


Which insurance companies offer term life insurance with no physical exam required?

Allstate insurance offers term life insurance with no exams.


What is the difference between whole life insurance versus term life insurance?

Term life insurance is an insurance that is set for a specific time period, for example, one can obtain term life insurance for 30 years. Whole life insurance covers one from application to death.


Is life insurance an asset?

Only whole life insurance,not term life.


Is term insurance the most expensive type of life insurance?

No, term insurance is not the most expensive type of life insurance. Usually, term insurance is the most affordable type of life insurance. Term life insurance usually costs 2-3 times less than permanent life insurance. Why? because term life is temporary coverage, usually for 1-30 years, and it builds no cash value inside the policy. See for yourself: Free term life insurance quotes at QualityTermLife's website.


How many years is a typical term for term life insurance?

Most insurance company provide term life insurance in five year increments.


DO YOU GET interest on term life insurance?

Generally, term life insurance does not return interest on your premiums paid. Term life insurance is temporary life insurance for a specific number of years. Usually term life insurance is available for 1-30 years. Term life insurance does not build cash value within the policy. It is "Pure Protection" with no investment portion to the policy. There are Return Premium Term Life Insurance Policies which may return a portion of your premiums if you outlive your policy term.


What is term life insurance quotes?

Term life insurance quotes are estimates of monthly payments for life insurance, which pays for funeral expenses after death.


Can you cancel a term life insurance policy?

Yes. Term insurance is like renting insurance.


What companies offer the cheapest term life insurance in the US?

The companies that offer the cheapest term life insurance in the US are Prudential Life Insurance and American Life Insurance. These companies can offer life insurance for pennies a day.


what are the advantages of long term life insurance vs whole life insurance?

The basic difference between long term life insurance and whole life insurance is that a term policy is life coverage only and this is also considered an advantage. One can buy a long term life insurance for periods of one year to 30 years, whereas whole life insurance is a combination of a term policy with an investment component.


What are the advantages of Term life insurance?

Term life insurance is the simplest form of life insurance. It was developed to provide temporary life insurance protection on a limited budget to the maximum number of people.


How do you find good term life insurance?

Good term life insurance is insurance that meets your needs at the lowest possibe cost.


Does State Farm provide convertible term life insurance?

State Farm does not provide convertible term insurance. They provide standard term life insurance.


Where can one compare term life insurance versus whole life insurance?

There are many places where one can compare term life insurance versus whole life insurance. One can compare term life insurance versus whole life insurance at popular on the web sources such as Wealth Pilgrim and MSN Money.


What is the difference between term and whole life insurance if there is any?

The difference between term life insurance and whole life insurance is that a term policy covers the insured for a "term of years" whereas a whole insurance policy covers the insured for the entire life period.


Where can someone get term or whole life insurance?

One can get term or whole life insurance through various insurance agencies. Some insurance companies that provide term or whole life insurance include MetLife, AAA, and State Farm.


What is meant by the term cost term life insurance?

Term life insurance refers to a common category of life insurance in which fixed payments are offered for a limited time (or term). If the person dies outside of the term, they receive no payment.


What does the statement, "insurance life no physical term" mean?

It would mean you could get term life insurance with no medical exam. Term life insurance only protects you till a certain age.