What Is Term Life Insurance?

Life insurance for a set period

Tunji Onigbanjo
2 min readJun 19, 2023

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Photo by Sean Oulashin on Unsplash

Term life insurance is a type of life insurance that provides coverage for a set period, usually 10, 15, 20, or 30 years. During the term of the policy, the policyholder pays a fixed premium, and if the policyholder dies during the term, the death benefit is paid to the beneficiary tax-free.

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