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People Also Ask

01-Question
Term Cover Life Insurance gives you simple, flexible cover that can pay out quickly when it's needed. It could pay out a lump sum if you die. Or be paid out in advance if you become terminally ill providing for your loved ones when you can't.
02-Question
Whole life insurance is designed to provide coverage on the insured for the insureds entire life as long as premiums are paid and the policy has not been surrendered. On the other hand, term life insurance provides coverage only for a fixed period that is stated in the policy.
03-Question
The good news is that many policies will give you the option to renew your policy when you reach the end of the term. The bad news is that you'll probably face much higher costs since age is one of key factors used to determine life insurance premiums.