What is a Term Life Policy?

Term life insurance provides coverage for a specific period—typically 10 to 30 years—offering a straightforward and affordable way to protect your loved ones. If you pass away during the term, your beneficiaries receive a cash payout, known as a death benefit.

Unlike whole or universal life insurance, term life insurance does not accumulate cash value over time. Instead, it focuses solely on providing financial protection for a set period at a lower cost.