Life Insurance is for the ones we leave behind. What a simple but powerful statement!
Term insurance is generally the least expensive and least complicated type of insurance. It provides insurance protection at a low cost for a certain period of time, such as 5, 10, 20, or 30 years. If you die within the term period, a death benefit is paid to your loved ones. If you are still living at the end of the term, protection ceases unless the policy is renewed. There is no cash value component with term insurance.
Being the least expensive form of life insurance, term life insurance gives you the opportunity to purchase the protection your family needs at an affordable price.
Life insurance is medically underwritten. The insurance company will base the final rate on your overall health, height, weight, do you smoke, etc. So when you apply for a life insurance policy, be prepared to answer a few medical questions. Most companies also request a medical exam.