Get insured for specific times.
Term Life
Term Life Insurance is temporary insurance.
Used to cover a specific need for a specific period of time : 10, 15 or 20 years etc.
Cost jumps up on each renewal.
No cash value.
Less expensive in the beginning, but becomes very expensive later in life.
Expires at age ~85.
Convertible to permanent insurance
Renewable without medical requirements
Types of Other Plans Available
Though there are many different variations available, most insurance companies will offer these three types. There are basically three different types of insurance plans available. Click on each type to learn more.