Term Life Insurance

Term life policies provide coverage for a predetermined period of time. After that period of time these policies expire. The death must occur in the allotted term for the death benefit to be paid. These policies can be available for 10,15, 20,25,30 or choose your own terms. They also can cover you until a set age of up to 65 years old. The premium prices in these policies are generally stable, but will increase when you renew them.  Renewable policies mean that you have the option of renewing your policy without proof of insurability, albeit at a higher premium. However, this option usually ends once you reach age 70 or so.  Convertible Policies mean that you have the option of turning a term life insurance policy into a permanent policy without the proof of insurability.