Professional Insurance Blog

Is buying a life insurance policy on your list of important things to do? Well, it should be. Let me ask you a few questions here. Do you love your spouse? Do you love your kids? Do you love your parents? Are you a responsible person? Do you have any common sense? All right, enough already. You’re probably thinking I’m a jerk about now am I right? Well, the truth hurts sometimes and if you answer “yes” to all these questions and don’t have a life insurance policy, that I’d be forced to argue that point.

There are actually eight different types of term life insurance available for consumers, although there are a couple differences and one is only sold as a rider. Let me touch on each one of these briefly.

#1. The first five types of term insurance are non-renewable/non-convertible term, which expires at the end of the stated period of coverage.