Term Life Insurance Meaning at Life

Term Life Insurance Meaning. Life insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period. Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term.

Term life insurance policies may be renewed for a premium at the end of a given term if the policy holder's life should exceed the term. Term life insurance (also called pure life insurance) is a type of life insurance policy that lasts for a set number of years, or term. With term insurance, you can get a large amount of life cover (i.e.

Top 10 Franz Kafka Quotes for the Mankind EliteColumn

Term life insurance definition, life insurance for which premiums are paid over a limited time and that covers a specific term, the face value payable only if death occurs within that term. Usually, insurers offer a term of 10, 15, 20, 25 or 30 years of term life protection. Life insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period. The premiumremains constant only for a specified term of years, and the policy is usually renewable at the end of.