Term life insurance  From Wikipedia, the free encyclopedia Jump
to: navigation, search  Term life insurance or term assurance is
life insurance which provides coverage at a fixed rate of
payments for a limited period of time, the relevant term. After
that period expires, coverage at the previous rate of premiums
is no longer guaranteed and the client must either forgo
coverage or potentially obtain further coverage with different
payments or conditions. If the life insured dies during the
term, the death benefit will be paid to the beneficiary. Term
insurance is the least expensive way to purchase a substantial
death benefit on a coverage amount per premium dollar basis over
a specific period of time.  Term life insurance can be
contrasted to permanent life insurance such as whole life,
universal life, and variable universal life, which guarantee
coverage at fixed premiums for the lifetime of the covered
individual unless the policy owner allows the policy to lapse.
Term insurance is not generally used for es