How Term Life Insurance Works What is term life insurance and how does it work?

Term life insurance is one of the two main types of life insurance. Term life is a temporary form of life insurance coverage providing life insurance protection for a specified period of time. Usually, a term life policy will last for up to 30 years, or until you reach age 65 or 70. Term life is pure life insurance protection, it is not an investment, and it does not build up any cash value inside the life insurance policy. The term of your term life insurance plan is the length of time you have life insurance protection. Many term life plans provide coverage for a term of 10, 15, 20 or 30 years. In addition, to providing temporary life insurance, a term life plan may offer you the option of renewability, which means when the policy expires at the end of your term, you can renew the life insurance plan, usually for an additional 10 year term. Also, when renewing your term life policy, you will not be required to take a physical exam to qualify, but your rate will be increased based on your age at that time. Level term life insurance is the most common and most popular type of term life insurance coverage. Level term life insurance provides an amount of life insurance that will remain the same each year throughout the term of your policy. In addition, the premiums you pay remain level (the same) each year throughout the term of your level term plan. Term life insurance costs a lot less than permanent life insurance because it is temporary, and does not build cash value. Learn more about how term life insurance works at http://www.term-lifeonline.com/how-term-life-insurance-works.html