Term Life Insurance is a temporary life insurance that provides protection for a specified period of time at a very affordable low rate. The duration of term life insurance policy varies from one, five, ten, fifteen to twenty years or expiring at some specific age. A death benefit is paid to the beneficiary if the insured dies within a specified period of time while the policy is still in force. If the insured lives longer than the term of the policy or stop paying premiums, the policy is no longer in effect. The insured builds up no equity in a term policy. Read the rest of this entry »