Characteristics of Term Life Insurance – What are the Characteristics of Term Life Insurance?
Characteristics of Term Life Insurance
– What are the Characteristics of Term Life Insurance
What are the characteristics of term life insurance? Term life insurance pays a specific amount of money to beneficiaries if the named insured person dies within the term of the policy. That is the basic definition of a term life policy. The policyholder pays premiums for the entire length of the term in order to maintain insurance coverage. Some of the main characteristics of these policies are low premiums, no cash value, and it is for a fixed length of time, unlike whole life policies. Let's look at these characteristics in depth.
When compared to whole life policies, one of the most significant characteristics is the low premiums associated with it. Whole life policies ...
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