term life insurance

noun

1. life insurance for which premiums are paid over a limited time and that covers a specific term, the face value payable only if death occurs within that term.

Example Sentences

I also have $500,000 in term life insurance from my employer.

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The takeaway for you: You stop paying for term life insurance when you are financially independent, your death would not put your wife under terrible financial pressure and/or when the term expires or premiums rise significantly, whichever comes first.

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At what stage should I reduce or stop paying for my term life insurance?

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Premiums for term life insurance are generally inexpensive.

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Term life insurance is extremely inexpensive, and it can be purchased to protect each debt you have.

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