10 Year Term Life Insurance Policy Explained

How does a 10 year term life policy work?

After paying each month for 10 years for a $100,000 policy - how does it work?

With a ten year term life insurance policy you pay your premiums for 10 years.

If you don't die within those 10 years, you get no money back.

Term life insurance is much cheaper than Whole life, because it is temporary and provides only life insurance protection.

Whole life insurance never expires but it usually costs a lot more.

You never get to use the money you pay into a term life insurance policy.

A 10 year term life insurance policy provides temporary coverage for 10 years. if you die during the term of your policy your beneficiary receives the proceeds, usually free from federal income tax.

If you need life insurance for more than 10 years, you may want to consider a 15, 20, or 30 year term life policy that offers guaranteed level rates and coverage for that period of time.

Here's how you can compare free term life insurance quotes online from over 70 leading insurers for savings up to 75%.

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Disclosure: Compensated Affiliate