Life Insurance Policy Term Plan

What is a term plan for life insurance coverage and how does it work?

It's a type of life insurance that provides protection for a temporary period of time.

These plans usually offer a "term" (duration) of coverage that lasts for 10 to 30 years.

You may select a term of 10, 15, 20, 25 or 30 years of coverage, depending on your age.

The longer your policy "term", the higher your annual cost of life insurance protection.

Term plans offer the most affordable type of life insurance, and the flexibility to choose how long your coverage will last.

These plans are useful for anyone who needs life insurance protection for a period for 30 years or less, as you will get the maximum amount of insurance for the lowest premium cost.

Learn more about a life insurance policy term plan and how it works.