You must Know More about term life insurance

  SO What is The Term Life Insurance

A policy with a set duration limit on the coverage period. Once the policy is expired, the order refer to the policy owner to decide whether to renew the term life insurance policy or to end the coverage period .

Benefit of Term Life Insurance 

 You may want to purchase a term life insurance policy to:

Term insurance is less expensive and affordable.
Cover specific financial responsibilities like college expenses
No medical exam required.
Supplement a long period policy or work policy .
That is the best for you Independent from employment .

What is The Main Majors Of The Policy  

there are 3 component

face amount (protection or death benefit)

Paying the cost to the insured.

the period of  coverage . 

that considered to be  insurance  in which death benefit would be paid by the insurance company if the insured have an accident or died during the term, while no benefit is paid  of the term.

Types of term life insurance include annual renewable and guaranteed level

Level term Life insurance

                               

Much more common than annual renewable level is guaranteed level premium , where the premium is guaranteed to be the same for a given period of years. The most common terms are 10, 15, 20, and 30 years

Annual renewable - Select a 10,...., 30 year as level-premium policy with rates that are guaranteed to remain level until your period still .

Guaranteed Level Protection - if premiums are paid according to the policies provisions, your level of protection will guaranteed untill you have 90 years old .

Who should consider this coverage?

Want to protect your family from financial problems if you died
You are under insured and want to complete  your coverage.