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Life Insurance |
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 Life insurance term provides protection for a specific period of time. It pays a benefit only if you die during the term. If you live beyond the specified term, the policy expires without value. It is sometimes called temporary life insurance.These policies can be renewed when you reach the end of the term. The premium rates increase at each renewal date . Some policies are convertible also.It is an agreement that provides guarantees to payment of a stated amount of monetary benefits upon the death of the insured.It Provides financial stability in the event that the unexpected happens to you.
Advantages:
- Initial premiums generally are lower than those for permanent insurance, allowing you to buy higher levels of coverage at a younger age when the need for protection often is greatest.
- It's good for covering needs that will disappear in time, such as mortgages or car loans.
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