Term Life Insurance
Insurance Glossary
Life insurance that covers a set number of years, commonly 10, 15, 20 or 30, and pays a death benefit only if the insured dies during that term. It builds no cash value, which is why it costs less than permanent coverage at the same face amount for the same person. Level term holds the premium fixed for the whole term, and many policies can be renewed at a higher price or converted to permanent coverage without new medical underwriting, subject to deadlines written into the contract.
This content is for general informational purposes only and is not insurance, legal, or financial advice. Coverage, exclusions, eligibility, and pricing vary by insurer, by policy, and by state, and only the policy documents control what is covered. Always confirm the details of any coverage with a licensed insurance agent or the issuing carrier before you buy.
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