Term Life Insurance or Term Insurance

Term Insurance is a Life Insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant time.  Once the relevant time expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either go without coverage or potentially obtain further coverage by different payment or conditions.  If the life insured dies during the term then the benefit will be paid to the beneficiary. 

Term Insurance is not generally used for estate planning needs or for charitable giving strategies, but it is used for pure income replacement needs for an individual. Because term life insurance is a pure death benefit, its primary use is to provide coverage of financial responsibilities for the insured or his or her beneficiaries. Such responsibilities may include, but are not limited to, consumer debt, dependent care, and university education for dependents, funeral costs, and mortgages. Term Insurance are categorized in two areas standard (also known as regular) and preferred which includes following factors.

• Age
• Gender
• Blood Pressure
• Build (height and weight)
•  Driving Habbits
• Medical/ Family History 

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