Term life insurance is a specific life insurance policy which provide death benefits to the policy holder for the specific period of time. It is based on the age, health condition and also the life expectancy of the policy holder. In some cases of the term life insurance, insurance company enquire driving records, current modifications, occupations, hobbies, smoking status and also similar information which require for conducting term policies.
Types: level term or level premium policy, yearly renewable term policy, decreasing term policy.
Benefits: It attractive for the young person with the children as it obtains substantial coverage for a low cost. It is also suited for the growing families as it maintain full coverage of the families. It sets a maximum age for the term life insurance coverage which ranges from 80-90 years.