Term
Life Insurance is life insurance for "temporary" needs that may last up to 30 years, or less.
For example,iIf you have 15 years
left on your home mortgage loan, purchasing a 15 to 20 year term life insurance policy is a
cost effective way to cover that substantial debt, in case you die within that period of time.
You do not purchase Term
life insurance to borrow from it in the future, because Term life insurance does
not build up any cash value inside the policy, it is pure life insurance protection.
Term life is almost always the lowest cost form of life insurance coverage because the coverage may expire before death of the person insured occurs.
