Term life insurance is the easiest type of life insurance to understand, no load term life insurance To put it simply, the insured person pays a minimal premium per thousand dollars of coverage on an annual, semi annual, quarterly or monthly basis, no load term life insurance If he or she dies within the term of the policy, the life insurance company will pay the beneficiary the face value of the policy, no load term life insurance **Distinctive Features of Term Life Insurance To better understand some of the distinctive features of term life insurance, consider the following points: First, term life insurance is "pure insurance" because when you purchase a term insurance policy you are only buying a "death benefit", no load term life insurance Unlike with other types of "permanent insurance" such as whole life, universal life, and variable universal life, there is no additional cash value built up with this kind of policy, no load term life insurance Term insurance only gives you a specific death benefit, no load term life insurance Second, the coverage is for a defined period of time (the "term") such as 1 year, 5 years, 10 years, 15 years, and so on, no load term life insurance Once the policy is in force, it only remains in force until the end of the term -- assuming you pay the premiums, of course, no load term life insurance Third, most term insurance policies are renewable at the end of the term, no load term life insurance With what is known as "Level Term Life Insurance", the death benefit remains the same throughout the term of the policy, but since the insured person is getting older, the premium will gradually increase, no load term life insurance As time goes by the cost of a level term insurance policy may become greater than you are willing to pay for a simple death benefit, no load term life insurance An alternative is the "Decreasing Term Life Insurance" policy in which the premium remains the same, but the death benefit goes down as time goes by, no load term life insurance Fourth, most term policies can be converted to permanent policies within a specific number of years, no load term life insurance If you decide it is important to retain the insurance coverage, converting may be something you should plan for, no load term life insurance You can anticipate the accelerating cost of term insurance premiums and conve

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