Does a term life insurance policy payout?

Yes, a term life policy pays out a death benefit to the beneficiary of the policy upon the death of the insured person, subject to the terms, conditions and exclusions stated in the insurance contract.

A claim must be made on the policy by the beneficiary after the insured person dies.

The death of the insured must occur while the term life policy is In Force.

Learn more about payouts on term life insurance policies.

How does life insurance compare to term insurance?

Life insurance is pays out a death benefit upon the passing of an insured person.

Whereas, term insurance is one type of life insurance, which provides temporary coverage usually lasting for a period of 30 years or less.

Some life insurance plans provide lifetime protection and build some cash value inside the policy; whereas, term insurance is pure death benefit protection with no cash value feature inside the policy.

Permanent (lifetime) life i...

It depends on the type of life insurance policy and the amount of insurance you buy.

In addition, your personal risk factors will impact the rate you are charged per $1,000 of life insurance.

Risk factors may include your age, gender, health, tobacco use, driving record, occupation, hobbies, lifestyle, and height-to-weight ratio, among other things.

However, the younger and healthier you are, the lower your cost for life insurance.

Learn more about the average cost of life insurance protection.

If you're shopping for life insurance in the USA you'll want to consider several things before selecting your policy.

When it comes to choosing a life insurance carrier, make sure the company has a string financial strength rating.

In addition, you'll want to check on the insurer's reputation, how long they have been in business, and the quality if their customer service, as well as, their claims payment history - do they pay claims in a timely manner?

When it comes to choosing the right life in...