A type of life insurance policy that provides coverage for a specified length of time and accumulates little or no cash values.

Life insurance that provides protection for a specified period of time. Common policy periods are one year, five years, 10 years or until the insured reaches age 65 or 70. The policy doesn't buil [..]

A policy that gives protection for only a definite period of time (e.g., 1, 3, or 5 years). If death occurs during the term for which the policy is written, proceeds are payable to the beneficiary. [..]

An affordable type of policy that provides coverage for a limited period of time, or "term."

No-frills life insurance, with neither cash surrender value nor loan value (an amount that can be used as collateral for a loan). Term life insurance provides a pre-set amount of coverage if the polic [..]

Definition A life insurance policy which provides a stated benefit upon the holder's death, provided that the death occurs within a certain specified time period. However, the policy does not pro [..]

see life insurance

Life insurance protection that pays the sum insured only if the insured dies within the term of the policy. See also Decreasing Term Insurance, Deposit Term Insurance and Convertible Term Insurance.

A type of life insurance that provides life insurance coverage for a period of time, but does not build capital to be paid out at the end of the insurance period.

Term life insurance is an insurance contract which covers an individual for a certain period of time. It provides protection for a specified number of years and then expires without value if the insur [..]

A life insurance policy purchased to cover a specific time period as opposed to the end of your life. Term policies may be written to expire at the end of a time period such as one, five or ten years or at a certain age of the insured.

Life insurance that provides protection for a specified period of time. Common policy periods are 10, 15, 20 and 30 years. Term policies usually do not build up any of the nonforfeiture values associated with permanent life policies.

Life insurance payable to a beneficiary only when an insured dies within a specified period. The coverage expires without value if the insured survives the stated period.

A life insurance policy for a specific time period that stipulates the insurance company must deliver a tax-free payment if the insured person dies within that timeframe. Many term policies only cover [..]

Life insurance that pays out a benefit in the event of the death of the insured during a specified term.

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A life insurance product that provides death benefit protection for a specified period of time. The policy pays benefits only if the insured dies during the term.

Life insurance which pays a benefit if the insured dies during a specified period.

Insurance that gives protection for a specific period and may run on a year, five years to ten years or until the insured reaches 65 or 70 years old.  The policy does not build up the non-for feiture [..]

A category of life insurance that is in effect for a fixed amount of time. If the insured dies before the term ends, the insurance carrier agrees to pay any beneficiaries a lump sum of money. This ins [..]

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 w [..]

A life insurance product that provides death benefit protection for a specified period of time. The policy pays benefits only if the insured dies during the term.

Life Insurance that provides protection for a specified period of time. The policies do not build up any non-forfeiture values associated with Permanent Life Insurance.

Term life insurance is the type of insurance that covers an individual for a certain period of time. These “terms” are usually in increments of 10/20/30 year periods. It pays a benefit to a designated beneficiary when the insured dies. Term policies are renewable, but the premium increases as the insured ages.

A policy, that provides risk coverage for a specified period of time. However, does not build cash value to the Insured.

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 di [..]

Life insurance that provides protection for a specified period of time. Common policy periods are one year, five years, 10 years or until the insured reaches age 65 or 70. The policy doesn’t build up any of the nonforfeiture values associated with whole life policies.

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 w [..]

A type of life insurance that proves coverage for a specific number of years, usually 10, 15, 20 or 30 years. If the insured lives beyond the term, premiums generally increase each year.

Protection when the unexpected happens

As opposed to Whole Life Insurance, this type of life insurance policy provides coverage for a pre-defined period of time and premiums can be fixed for that period. Depending on the terms of the policy, the death benefit may stay the same for as long as 30 years.

Deferral of taxes on income until a later date. Tax-deferred vehicles include IRAs, 401(k) plans, Keogh plans, annuities and employee stock ownership plans.

Insurance coverage that has no cash value and is designed for a specified period of time such as 5,10,15,20,25, or 30 years.

A contract that provides a death benefit but no cash build up or investment component. The premium remains constant only for a specified term of years, and the policy is usually renewable at the end o [..]

Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the [..]