Term Life Insurance: Provides coverage for a specified term or duration, such as 10, 20, or 30 years. If the policyholder dies during the term, the death benefit is paid out to the beneficiaries. If the policyholder survives the term, the coverage expires.

Typically has lower premiums compared to whole life insurance, especially for the same coverage amount.

• Provides flexibility in terms of coverage duration. It's suitable for those who need coverage for a specific period, such as during mortgage payments or until children are financially independent.

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