Term Insurance

is a type of life insurance policy that provides coverage for a specific period, or term, of time. Unlike permanent life
insurance policies such as whole life or universal life, which provide coverage for the insures entire life as long as premiums are paid, term insurance only provides coverage for a predetermined period, typically ranging from 10 to 30 years

Affordability: Term insurance tends to be more affordable than permanent life insurance policies because it only covers a specific
period of time and does not accumulate cash value.

Fixed Premiums: Premiums for term insurance policies are typically fixed for the duration of the term.

Death Benefit: If the insured dies during the term of the policy, the beneficiaries receive a death benefit payout. This payout is
usually tax-free and can be used by the beneficiaries to replace lost income, pay off debts, or cover other financial needs

No Cash Value: Unlike permanent life insurance policies, term insurance policies do not accumulate cash value over time. This
means that if the insured outlives the term of the policy, there is no payout or return of premium