Term life insurance provides coverage in the form of a death benefit for a specified term of one or more years. The insurance company guarantees to pay a death benefit to your beneficiaries if you die before the term of the policy expires. 

Term life insurance initially provides the largest amount of coverage for the least amount of  premium.  One popular form of term insurance is the guaranteed level term policy which offers a level death benefit with the bonus of a level premium throughout the elected term of the policy. 

For example, on a 20-year guaranteed level term policy, the insured will pay the same premium year-in and year-out for the 20-year policy term. In most states, you may even purchase up to a 30-year guaranteed term plan. At Life and Health Insurance Quote, we survey the plans available in your area with an eye towards securing the most coverage for the best available price.

The following characteristics are common to most level term policies:

1. Level death benefit.

2. Level premium for part or the entire term period.

3. No cash value accumulated.

4. Coverage expires at the end of the contractual term period.

5. Costs generally lower than other forms of life insurance.

Term life insurance can provide a basic foundation to protect your assets, your family, your business or your estate.  Essentially, the components of term insurance satisfy the major function of life insurance: Protection for those individuals who are dependent on one's earnings. It does this in a most cost efficient manner. 

Term insurance is commonly known as "pure insurance" because it does not provide you with anything other than insurance protection (ie. cash value, investment income, etc.). Term insurance remains relatively inexpensive making it quite suitable for young families and people looking to get the most mileage for their premium dollar.