MANAGEMENT

Detailed explanation-1: -A term life insurance policy is the simplest, purest form of life insurance: You pay a premium for a period of time – typically between 10 and 30 years – and if you die during that time a cash benefit is paid to your family (or anyone else you name as your beneficiary).

Detailed explanation-2: -Term life insurance guarantees payment of a stated death benefit to the insured’s beneficiaries if the insured person dies during a specified term. Term life premiums are based on a person’s age, health, and life expectancy.

Detailed explanation-3: -Term Insurance. Term insurance provides protection for a specified period of time. This period could be as short as one year or provide coverage for a specific number of years such as 5, 10, 20 years or to a specified age such as 80 or in some cases up to the oldest age in the life insurance mortality tables.

Detailed explanation-4: -Term insurance is a life insurance product, which offers financial coverage to the policyholder for a specific time period. In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary.