Types of Term Life Insurance
A level term policy is a popular choice because the premium stays the same for the entire policy term length. With no price increases during this term, it offers an economical way to purchase life insurance. When the term is over, coverage ends.
You can typically convert your term policy into a whole life insurance policy without any additional underwriting or undergoing another medical exam unless you increase your coverage.
This is a type of term life insurance where the amount of coverage increases over time, usually at a fixed rate or based on inflation. The premium also increases accordingly.
This type of policy allows you to renew your term policy for another term without having to undergo a medical exam or provide proof of insurability. This can be useful if you want to maintain your coverage after the initial term expires, but you are not ready to commit to a permanent policy.