what is term life insurance?

Posted on February 28, 2011
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Myla had asked what is term life insurance? Her friend had explained to her that Term life insurance provides coverage at a fixed rate of payments for a limited period of time. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments and/or conditions. If the insured dies during the term, the death benefit will be paid to the beneficiary. This is also the least expensive type of life insurance.

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