What is the definition of long term life insurance?Long term life insurance is life insurance lasting for a long period of time.
There is permanent life insurance that lasts for your entire lifetime.
In addiiton, there is term life insurance that lasts for a long period of time, including 20, 25 or 30 years.
With
long term term life insurance policies you select coverage for a "term" that meets your needs and if you pass away during the period of your life insurance term, your policy death benefit is paid out to your beneficiary.
If you outlive the duration of your policy term, your life insurance coverage ends.
