| Description: | First of all, weve all heard of life insurance. Many of us even have it. But what is term life insurance? The meaning of term life insurance is in its nameit covers its policyholders for a certain amount of timea certain term. It costs much less (except for the very elderly) than whole life insurance and can be covered in two types of premiumslevel-term and annual renewable. The premiums of level-term stay the same throughout the duration of the policy and can usually be purchased in terms up to 30 years; however, annual renewable premiums increase as the policyholder gets older. |
