Although nothing can replace the advice of a Financial Advisor when making the final decision, this table can be a helpful starting point. If you re looking for protection during a specific time period at a reasonable price, consider term life insurance. Protection is limited to a specified and finite period of time, usually between one and 20 years. Death benefits are paid only if death occurs during the period covered by the policy. Coverage ceases when premiums are not paid.
Policy costs less than other types of insurance, but provides equal protection.
It provides the largest immediate coverage per dollar. Under this type of policy, the holder does not need to provide evidence of insurability to renew the policy. Premiums may increase, however, as the policyholder ages. Convertible term life insurance Convertible term life policies can be exchanged for whole life, universal, variable or adjustable policies. Policyholders do not need to provide evidence of insurability, but premiums will increase.