Most life-based policies share fundamental features that define their value and function:
: Provides protection for a specific period (e.g., 10, 20, or 30 years). life insurance life assurance
: Ideal for legacy planning, covering funeral costs, or estate tax protection. Core Informative Features covering funeral costs
: Because death is a certainty, premiums are typically higher than term insurance. with no expiry date.
: If the insured survives the term, the policy usually expires without a payout or cash value.
: A death benefit is paid only if the insured passes away during the specified term.
: Provides coverage for the entire lifetime of the insured, with no expiry date.