Senior Direct Insurance Solutions

What Is Term Life Insurance?

Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate. Term insurance is mainly used to replace income in case of death during a person earning years. Typically, term policy’s run for 15, 20, or 30yr time periods, and usually less expensive than whole life policy which covers a person for their entire life.