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What is Term Insurance?

Products with term insurance offer complete protection. These are the most straightforward and typically least expensive life insurance options.
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Term life insurance is significantly less expensive than whole life insurance. Term life insurance has no cash value, in contrast to the majority of whole life insurance. Stated differently, the policy's guaranteed death payout is its sole worth.
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With term life insurance, you may ensure your loved ones have enough money in the event of your death. Typically, your family receives a lump sum payment that can be used to settle debts such as a mortgage and provide them with a living income.
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Source from Moneysense and Investopedia.
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