Term life insurance is characterized by _____.

Question

Quizplus · Accepted Answer

Term life insurance premiums are typically based on the age, health, and risk factors of the insured at the time of policy purchase. As the insured gets older, the premiums may increase to reflect the increased risk of death. This is why term life insurance is often purchased by younger individuals who may have a greater need for coverage (such as those with dependents), as the premiums will generally be lower at a younger age.

Term Life Insurance Is Characterized by _____