Review:
Term Life Insurance
overall review score: 4
⭐⭐⭐⭐
score is between 0 and 5
Term life insurance is a type of life insurance that provides coverage for a specified period of time, usually ranging from 5 to 30 years.
Key Features
- Provides coverage for a specific period of time
- Lower premiums compared to whole life insurance
- Death benefit paid out if the insured passes away during the term
Pros
- Affordable premiums
- Flexible coverage options
- Simple and straightforward
Cons
- No cash value build-up
- Coverage ends at the end of the term if not renewed or converted