Term Life Insurance
Term Life is life insurance that you pay for during a specified length of time or term – generally one to 30 years. You select the amount of the death benefit or face amount to meet your needs.
Premiums, or payments, which can be the same amount or increase with time, must be made monthly, quarterly, semi-annually or annually. If you pass away during the term of coverage, the face amount of your policy will be paid to your beneficiaries. Term insurance policies do not accumulate cash value and therefore usually offer lower premiums than other life insurance products with the same face value.