What Is Term Life Insurance?
Life insurance that provides coverage for a specified period (the term) and pays a death benefit only if the insured dies during that period; it has no cash value.
Term Life Insurance across 2 exams
Term Life Insurance appears on the following exams. Each defines it in the context candidates are tested on:
- Life Insurance
- Life insurance that provides coverage for a specified period (the term) and pays a death benefit only if the insured dies during that period; it has no cash value.
- Life-Only Insurance
- Temporary life coverage for a specified period (10, 20, 30 years, or to age 65/80) that pays a death benefit only if the insured dies during that term. No cash value; premiums are lowest for the coverage amount but increase at renewal.