Definition
Pure life insurance that pays a death benefit if you die within a set term (10, 20, 30 years). No cash value. Inexpensive for the coverage provided.
Related Insurance terms
Insurance
A contract that provides financial protection against specific risks in exchange…
Premium
The recurring amount paid to an insurance company to maintain coverage. Typicall…
Deductible
The amount you pay out of pocket before insurance coverage kicks in. Higher dedu…
HSA (Health Savings Account)
A triple-tax-advantaged account paired with a high-deductible health plan: tax-d…
Whole Life Insurance
Permanent life insurance combining a death benefit with a tax-deferred cash-valu…
Universal Life Insurance
A flexible form of permanent life insurance allowing adjustable premiums and dea…
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