Term Life Insurance.

Your term life insurance would offer you protection for a pre-set term of one year or more. Traditionally sold as terms of 5, 10 or 20 years, your monthly premium will remain level throughout the life of your term policy. You will only be eligible for benefits during that term of years. Some term life policies are renewable for an additional term or more, but your premium will be higher each time you renew. It’s important to remember that even though a term life policy will provide the largest cash benefit for your premium dollar, unlike whole life plans, term policies do not have cash value accounts.