Life insurance that is purchased for a preset length of time is Term Life insurance. 

With this type of life insurance, when the term is over, the insurance ends. Term Life insurance is categorized as Level, Decreasing, or Annual Renewable. Not sure how much Life Insurance you'll need? Try the Life Insurance Calculator below!

Level Term Life

Level Term Life is the most common type of Term Life insurance. This is due to its constant coverage and premium throughout the length of the policy.

Decreasing Term Life

Decreasing Term Life is generally used to cover loans. The coverage decreases gradually over the length of the policy, but the premium remains the same.

Annual Renewable Term Life

The coverage on an Annual Renewable Term Life insurance stays the same, but the premium increases each year.

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Decreasing Term Life Insurance