InsuranceSingle-premium life Exclusion Right of survivorship Waiver Guaranteed renewable Underwriting income
Straight term
Term insurance is a type of coverage that is limited to a specific period of time and cannot be renewed. This means that once the term ends, the insurance expires and the insured is no longer covered. Unlike permanent life insurance, term insurance does not accumulate cash value over time. It is a cost-effective option for those who need coverage for a specific period of time, such as during their working years or to cover a mortgage. However, it is important to review and renew term insurance policies periodically to ensure that they still meet the insured's needs.
Related terms
Understand the meaning and definition of Single-premium life in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Exclusion in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Right of survivorship in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Waiver in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Guaranteed renewable in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Underwriting income in the context of stock market, trading, and investments.
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