Which type of insurance is sometimes called temporary life insurance?

Question

Quizplus · Accepted Answer

Term insurance is sometimes called temporary life insurance because it provides coverage for a specified term, typically 10, 15, 20, or 30 years. After the term expires, the policyholder may choose to renew the coverage but at a higher premium or let the policy expire. This type of insurance is often chosen by individuals who only need coverage for a specific period, such as until their children graduate from college or until their mortgage is paid off.

Which Type of Insurance Is Sometimes Called Temporary Life Insurance