Term life insurance, also known as pure life insurance, guarantees a death benefit if the insured person dies during a specified term, for example, ten, twenty, or thirty years.

Once the term expires, the policyholder can either renew it for another term-specific policy, convert the policy to permanent coverage, or allow the term life insurance policy to terminate.

The term policy is used for Mortgage Protection, Income Protection, Key Man insurance, or any short-term protection need.

The amount of benefits provided depends upon the plan selected, and the premium will vary with the amount of the benefits desired. Riders and conversion provisions are subject to additional costs.

Annually renewable, customized year, or return of premium, are all additional customization options for term life insurance.

Premiums will increase at the time the policy is renewed or converted.