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A term life insurance policy is a life insurance policy that provides coverage for a specific period of time, known as the term. The term is typically 10, 20, or 30 years, although some companies offer terms as long as 40 years. If the insured dies during the term, the death benefit is paid to the beneficiaries. If the insured survives the term, the policy expires and no death benefit is paid.
Term life insurance is the most basic type of life insurance. It is also the most affordable, which makes it a popular choice for people who are looking for life insurance coverage but don’t have a lot of money to spend. While term life insurance does not build cash value like whole life insurance, it does provide protection for your loved ones in the event of your death
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