Term assurance is taken for?

or:Term assurance is taken for?or:A policy with a set duration limit on the coverage period eg 10,20 30 years. Once the policy is expired, it is up t

or:Term assurance is taken for?

or:A policy with a set duration limit on the coverage period eg 10,20 30 years. Once the policy is expired, it is up to the policy owner to decide whether to renew the term life insurance policy or to let the coverage end. This type of insurance policy contrasts with permanent life insurance, in which duration extends until the policy owner reaches 100 years of age (i.e. death).These are often used to provide life insurance against large long term financial commitments such as mortgages & term of years reflects the same.

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