Term life insurance is temporary and is beneficial for people with limited budgets and employers looking to insure employees. Term life insurance provides life insurance for a specific period of time, with a fixed rate of payments. Benefits are only paid out if the insured person dies within the dates covered by the insurance policy. Coverage will either end or offer different payments or conditions once the end date of the policy has been reached.
Term Life Insurance Key Points:
- Various terms offered to suit your budget
- Helps protect your family’s lifestyle
- Convertible to a permanent policy