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Term Insurance

Term insurance is, perhaps, the simplest form of life insurance to understand. At its heart, it provides temporary life insurance on a limited budget. When you purchase term insurance, you're buying coverage for a set period of time. As a result, you only pay for that coverage. That's one of the reasons why term insurance can be less expensive than other options. Remember though, if you outlive the term for which you agreed, that coverage is no longer valid.