A form of life insurance that covers the insured person for a certain period of time, the “term” that is specified in the policy. It pays a benefit to a designated beneficiary only when the insured dies within that specified period which can be one, five, 10 or even 20 years. Term life policies are renewable but premiums increase with age.
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About this Entry
This page contains a single entry by David published on July 11, 2005 11:02 PM.
UNIVERSAL LIFE INSURANCE was the previous entry in this blog.
TERRITORIAL RATING is the next entry in this blog.
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