What is term life insurance?

[Ezra]

I’m trying to understand term life insurance and whether it’s the right option for long-term financial protection compared to other life insurance plans.

 

[Jonas_Kahnwald]

Term life insurance is a straightforward, reasonably priced life insurance policy that offers protection for a predetermined amount of time (such as 10, 20, or 30 years). The nominee gets the payout if the policyholder dies during this term, but there is no maturity benefit if the term ends while the policyholder is still alive.

 

[Peter]

Term life insurance is a policy that provides coverage for a fixed period (like 10, 20, or 30 years) and pays a death benefit to beneficiaries if the insured person dies during that term.