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Posted by: Altura Benefits in
Term Life insurance is also known as pure life insurance. It is the type of life insurance that guarantees payment of a determined death benefit during a specified term or time period. You can select a term plan that will last 5 years, 10 years, 20 years, etc… Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, as whole life, or allow the policy to terminate. The longer the specified term, the higher the premium will typically be.
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