Term Insurance
There are several different types of term insurance you can consider:
* Renewable Term Insurance
* Convertible Term Insurance
* Level Term Insurance
* RoP Level Term Insurance
Term Insurance is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from one to 30 years. Most term policies have no other benefit provisions.
Level term means that the death benefit stays the same throughout the duration of the policy.
RoP Level Term means that if you do not use the death benefit during the level term benefit the policy returns your premiums.
In 2003, virtually all (97 percent) of the term life insurance bought was level term.
For more on the different types of term life insurance, click here.
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