Most Life Insurance sold in the US is term insurance either through an employer, or group or directly to an individual. The concept is that you will be able to buy a certain level of coverage guaranteed at a certain price during some specified time period. So, it would be common to sell someone term life for a term of 10 years , 15 years or 20 years. The policy usually allows this purchase during the "term" without having to provide any documentation of insurability. Keep in mind a couple truisms. life Insurance is virtually always more expensive in the future then it is toady. Why ? You grow older. Secondly, a significant amount of Term insurance, never has an actual payout of benefits. Why ? The person insured lives past the end of the term. So while you may need Term insurance for the short term, take a look at whole life or variations of it that allows cash value accumulations.
A term life insurance plan is a policy that stays in effect for a certain number of years. Those number of years are the "term" of the policy. E.g. 10 year term life insurance will last 10 years. After that, the price will jump up very high (usually at least 10 times as much as the original premium) or the policy will end.
Some term policies guarantee the premium and face amount to stay the same for the entire term. Others do not provide that guarantee. Also, some term plans allow you to convert the term policy to permanent at some time before the term ends.
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Some term policies guarantee the premium and face amount to stay the same for the entire term. Others do not provide that guarantee. Also, some term plans allow you to convert the term policy to permanent at some time before the term ends.