Temporary protection
Term life
Coverage for a set period—often chosen while financial responsibilities are highest.
- Duration
- Fixed term
- Common use
- Income, mortgage, debt
- Cash value
- Typically none
- Designed to cover a defined window, such as raising children or paying down a mortgage.
- Often provides more initial death-benefit coverage per premium dollar than permanent insurance.
- Renewal or conversion options vary by contract and should be reviewed before purchase.