Term Life Insurance is a type of life insurance that provides coverage for a specific period of time, known as the "term." If the insured person passes away during the coverage period, the policy pays a tax-free death benefit to their beneficiaries.

Term life insurance is often the most affordable way to obtain a significant amount of life insurance protection.

How Does It Work?

You choose:

- A coverage amount (such as $100,000, $250,000, or $500,000)

- A term length (such as 10, 15, 20, or 30 years)

If you pass away during the term, your beneficiaries receive the death benefit. If the term expires and you are still living, the coverage ends unless the policy is renewed or converted, depending on the policy provisions.