What is the name of the insurance policy that pays your beneficiary a specific amount of money if you die while covered by the policy,and this coverage is for a set number of years and must be renewed when it expires?

Question

Quizplus · Accepted Answer

The description provided matches the features of a term life insurance policy. This policy provides coverage for a set number of years, and if the policyholder dies during this term, their beneficiary receives a set amount of money. The policy needs to be renewed at the end of each term to continue coverage.

What Is the Name of the Insurance Policy That Pays