Term Life Insurance (ID-L)

Maria is looking for a term life insurance policy with a death benefit that will go up over time to account for her family’s increasing expenses. What type of term life policy would be best for her?

Which type of life insurance does NOT have any cash value and is considered temporary insurance protection for a specific period of time?

With an annual renewable term (ART) policy, why does the premium go up each year?

A policy that provides the same death benefit with the same premium for a certain number of years (15, for example), is what type of term life policy?

Which of the following is true regarding term life insurance?

For which variation of term life insurance does the insurer guarantee that the policy can be renewed year after year, without having to prove good health each year, and the premium increases each year based on the insured’s mortality?

With level term, what remains level during the specified policy term?

Which type of term life can be structured to pay off a specific debt, such as a 30-year home mortgage, in the event of the insured’s death?