term insurance

Term insurance is a type of life insurance that provides coverage for a specific period, such as 10, 20, or 30 years. If the policyholder passes away during this term, the insurance pays a death benefit to beneficiaries. If they survive the term, the policy expires with no payout. It offers a straightforward, cost-effective way to financially protect loved ones against loss of income or expenses like mortgage payments and education costs during the coverage period. Term insurance is ideal for those seeking temporary protection aligned with specific financial responsibilities.