Term Life means life insurance that will end after a certain term, or number of years. E.g. 20 year Term will end after 20 years.
It is assumed that the price will stay the same for the entire term, but not every policy's price is guaranteed to stay the same (level) for the entire term. So look at that feature when you pick out your Term policy.
Also, Term life does not usually just end when the term ends; it usually jumps way up in price and then can go up every year after that. If you need to keep the policy for a short time after the term ends, it is possible, but not economically feasible for most people to keep up for very long. When the term ends, most people buy a new policy, if they are able to qualify for one at that time.
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It is assumed that the price will stay the same for the entire term, but not every policy's price is guaranteed to stay the same (level) for the entire term. So look at that feature when you pick out your Term policy.
Also, Term life does not usually just end when the term ends; it usually jumps way up in price and then can go up every year after that. If you need to keep the policy for a short time after the term ends, it is possible, but not economically feasible for most people to keep up for very long. When the term ends, most people buy a new policy, if they are able to qualify for one at that time.