Ten Year Level Term Life Insurance is life insurance coverage that will not go up in price for a period of 10 years.
It may have the option to be extended beyond that time for another year, or longer, but the premium will be much higher when the 10 year term is complete.
A 10 year term policy does not have any cash value inside the policy, just life insurance protection. Some 10 year Level Term plans can be converted to a permanent life insurance policy without evidence of insurability (no health questions asked) for some or all of the 10 years.
If you need life insurance only for 10 years (or less), then a ten year term policy offers the lowest rates for your life insurance coverage.
If you think your needs may change over time, you may want to consider buying a 15 or 20 year term life insurance plan.
Learn more about how a 10 year term life insurance policy works.
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