Term Life: Rapid Fire
Chapters in this video
What this video covers
- When ordinary term life pays a death benefit, when coverage ends, and why it generally has no cash value
- How level term and decreasing term differ, including why a falling benefit can have a level premium
- How annually renewable term keeps the benefit level while premiums generally rise with attained age
- What return-of-premium term may refund, why it usually costs more, and why early cancellation may not return all premiums
- How renewability differs from conversion, and why neither guarantees the original premium or unlimited coverage
- How attained-age and original-age conversion pricing work, including possible past-premium payments
- How to match a policy period to a temporary need and spot conversion deadlines that do not allow backdating
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