What Is The Major Advantage Of Term Life Insurance? 
The major advantage of term life insurance is initial cost . With term life insurance you can get the most life insurance coverage today for your premium dollar . Since life insurance 's primary purpose is to create cash at death , that is important . Term insurance typical starts low and the renews for a higher premium at the end of a term -LRB- 10 or 20 years for example -RRB- and that continues until the policy 's expiry date . The renewal rates can be quite large in later years , which is why term insurance is suited for short term needs . Term policies typically include the ability to convert to a level premium permanent policy before a stated date . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community . 