Term life is one of the most popular life insurance options. Those who have dependents should consider it as a viable option that would provide financial security in the event of their passing.
Why choose Term Life?
Compared to other policies, term life is very inexpensive. Its affordability and reliability make it an excellent option for those who want to provide for those close to them.
Term Life policies offer coverage for a set amount of years and will only pay if the individual passes away during that period. Because of the stipulations of the death benefit, it doesn’t provide a monetary amount indefinitely. If your policy covers you for ten years and you purchase it when you are forty, your family would not receive money if you passed away at fifty-five.