Here are some of the questions that are frequently asked by the individuals or parties who are interested in getting a term life insurance:

What is term life insurance?

The most basic type of life insurance, a term life insurance provides security or coverage for a specified time period provided that you deposit a specified premium on a monthly basis for the time period. As with all other types of life insurances, your beneficiaries will be paid the insurance amount if you die, but your death must be within the specified time period for your beneficiaries to be eligible for the term life insurance amount.

Are there any types of term life insurance?

Yes. There are two main types of term life insurance policies. They are level premium term life insurance and yearly renewable term life insurance.

What is the Return of Premium Life Insurance?

A quite useful product, return of premium life insurance allows you to recover up to 100% of all premiums that you paid on the policy. This can be taken advantage of only if there is no death of the insured person or personals within the term period.

What is the Instant Issue Term Life Insurance?

Utilizing a simplified underwriting process followed by a streamlined application process, you don’t require undergoing any medical if you request instant issue term life insurance to be included as a product with the term life insurance policy you buy at the time of buying.

Is a term life insurance policy convertible?

Yes. You can covert most term life insurance policies to permanent life insurance policies. But you can do that only within a specified time period.

What happens at the end of a term life insurance period?

Simply, it will end. But you may have the option of renewing it.