Term life is sometimes referred to as "temporary" life insurance because your coverage lasts for a specific period of time, it is not permanent.

Just like your auto or home insurance, term life is for a specific period of time. Most term life plans offer you the option of choosing your life insurance protection for a period (term) of 10, 15, 20 or 30 years. 

With a level term life insurance policy you would pay the same premium each year (or month), while the amount of life insurance you have r...
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