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  2. Term life insurance - Wikipedia

    en.wikipedia.org/wiki/Term_life_insurance

    By using the convertible term life insurance provision, the insured can convert a term life policy into a Universal Life or Whole Life policy. This option can be useful to a person who acquired the term life policy with a preferred rating class and later is diagnosed with a condition that would make it difficult to qualify for a new term policy.

  3. Types of life insurance - AOL

    www.aol.com/finance/types-life-insurance...

    Another drawback of term life insurance is that it only provides coverage for a set period. If a policyholder buys a 10-year term policy but dies 11 years after purchasing it, no death benefit is ...

  4. Term life insurance - AOL

    www.aol.com/finance/term-life-insurance...

    Term life insurance policies typically offer term lengths ranging from 10 to 30 years, with a few carriers offering 35- and 40-year terms. The death benefit amount can vary widely based on your ...

  5. What happens if you outlive your term life insurance? - AOL

    www.aol.com/finance/happens-outlive-term-life...

    Yes, you can cancel a life insurance policy at any time. If you have a term policy, you can either formally cancel with your insurance company, or you can simply stop paying the premiums. With ...

  6. Return of premium life insurance - Wikipedia

    en.wikipedia.org/wiki/Return_of_premium_life...

    Return of premium life insurance. Return of premium (ROP) life insurance is a type of term life insurance policy that returns a portion of the cumulative premiums paid if the insured outlives the policy's term. [1] For example, a $1,000,000 policy bought for $10,000 a year over a 30-year period would result in $300,000 being refunded to the ...

  7. Life insurance - Wikipedia

    en.wikipedia.org/wiki/Life_insurance

    Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal ...

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