Term Life Insurance offers insurance
policy for a particular time period as you settle a set month to month or
yearly payment. Once the time period mentioned in the coverage expires, the
premium payments will stop and definitely the protection stops also. During the
coverage timeframe, if the insured individual passes away, the death benefit is
paid out to the inheritor.
Term Life Insurance works exactly the same way as many other kinds of insurance
coverage and that it pays the claims mentioned in the agreement presented the
payments are updated and is still inside the policy timeframe. And once the
coverage ends, not only will the benefit cease, there's no return on the
premium paid.
The same can be said for a house insurance for example. You pay an annual
premium to get your house and...