Life insurance is a wonderful product. It has been with us for a long time and has provided security for so many people. Term life insurance is arguably the purest form of life insurance. The average insurance buyer probably recognizes term insurance because of its reputation for being the least expensive of all the life insurance policies. The public has surely caught on to this aspect but is sometimes hard pressed to define the product that they purchase. How do you define term life insurance? The name itself actually defines the policy. Term indicates a definite time period. Term also tells us that there is a date in time when the policy terminates. Term life insurance provides protection for a defined period of time and then terminates. That definition about sums it up.

What do term policies look like?

1. Decreasing Term