A simple guide to term life.

Type of life insurance that provides coverage for a specific period (“term”), such as 10, 20, or 30 years.

Pays a death benefit to your beneficiaries if you die during the term.

No cash value—unlike whole life, it doesn’t build savings; it’s pure insurance.

Usually cheaper than permanent life insurance because it’s temporary and has no investment component.

Premiums are fixed for the length of the term (in most policies).

Coverage ends when the term ends, unless you renew or convert the policy.

Good for temporary financial needs, like covering a mortgage, raising kids, or income replacement.