Term Life

Term life insurance is a kind of insurance that covers you for a set amount of time, usually between 10 and 30 years. The person who has the policy pays a premium, which is based on a quote from the insurance company. This kind of insurance is only good for a short time and protects the policyholder during a difficult time in their life, like when they have young children or are paying off a mortgage. At the end of the term, the policyholder can choose to renew the coverage or let it expire.