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Question 1 of 17 in Types Of Life Insurance Policies |
What is term insurance? |
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Term life insurance is insurance that lasts for a specific time, such as 5 years or 10 years. The policy pays a death benefit in the event the insured dies during the specified period. Since term insurance is for a limited period and accumulates no cash value, the rates tend to be low for a given amount of insurance. |
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