What is a term plan for life insurance coverage?
It's a type of life insurance policy that provides protection for a specific number of years.
These plans usually offer a "term" (duration) of coverage that lasts for up to 30 years.
You may select a term of 10, 15, 20, 25 or 30 years of coverage, depending on your age.
The longer your policy "term", the higher your annual cost of insurance.
Term life plans offers the most affordable type of life insurance, and the flexibility to choose how long you have coverage.
These plans are useful for anyone who needs life insurance protection for a period for 30 years or less, as you will get the maximum amount of insurance for the lowest premium cost.
Learn more about a life insurance policy term plan and how it works.
