Term insurance cost

Low-cost life insurance providing cover­age only for a limited time, such as one year, five years, or to age 65. Term insurance costs less at younger ages than a comparable amount of CASH value life insurance, or permanent insurance, which covers the remaining life of the insured. Term insurance has become increas­ingly popular; it costs less because there is less likelihood that an insured will die during the term, whereas with cash value insurance, a policy must pay off whenever a policyholder dies. However, the pre­mium for term insurance increases dramatically as an insured grows older, but the premium for permanent insurance usually remains level throughout an insured's lifetime.