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Hello Merita, You can buy the plan here and also check the premium amount: Term Insurance
Term insurance policies are known for affordability, as they typically offer higher coverage amounts at a lower premium than other life insurance policies. This is because term insurance policies do not accumulate cash value over time and only provide a death benefit if the policyholder passes away during the policy term.
Policyholders can choose the amount of coverage they want and the length of the policy term. Suppose the policyholder passes away during the policy term. In that case, the beneficiaries will receive a lump sum payment, which can be used for expenses such as mortgage payments, college tuition, or other bills.
Once the policy term has ended, policyholders can choose to renew it, convert it to a permanent life insurance policy, or let it expire. However, if the policyholder outlives the policy term, there is no payout, and the policy expires.
Term insurance policies are popular among those who want affordable and straightforward life insurance coverage for a specific period. It is essential to carefully review the policy terms and conditions to ensure that the coverage and the length of the policy term meet your needs.
