Term life insurance provides coverage for a stated period of time. Term life is the simplest form of life insurance and was developed to provide temporary life insurance on a limited budget. This coverage is perfect for short-term goals, such as paying off your college education, funeral costs or mortgages. The most common terms are 10, 15, 20, and 30 years.
Term life gives you the flexibility to change your policy should your temporary needs turn into permanent goals. You can convert all or some of your term coverage into a permanent policy for a lifetime of coverage.
|Term Life||Whole Life|
- David C.