What Are The Advantages And Disadvantages Of Term Life Insurance? 
As Lenny said , the biggest advantage of Term life insurance is it 's relatively low cost -LRB- although this is not always the case -RRB- . Another advantage is that it is a simple product , with few bells and whistles , so less complicated to buy than some permanent policies . It is a good choice for those who need life insurance for a set period of time and do n't care about cash value . The biggest disadvantage of term is that the cost will jump very high after the term ends . Another disadvantage is , if you miss two monthly payments , you will need to qualify medically to get your policy back . Some people find it a disadvantage to have to make regular payments , as you can not pay it off ahead of time , as you can with Universal or Whole Life . 