Conditions are right for tornadoes, and tornadoes are possible. Remain alert: watch the sky and tune in to NOAA Weather Radio, commercial radio, or a local television station in case a warning is issued.
Term life insurance provides death benefit protection for a period of one or more years. The death benefit of the policy is paid only if the insured dies during that period. If the insured lives beyond the term period, no death benefit is paid. Typically, there are no cash values or loan values for term life insurance.
Unlike a whole life insurance policy that can cover you from the cradle to the grave, term insurance, as its name suggests, only provides coverage for a set period of time. What happens when your term life insurance policy comes to the end of its term depends on the provisions of your policy. Term life insurance is designed to provide financial compensation to your beneficiaries in the event of your death during a specified period of time. The length of this term is defined by your policy, such as 10, 20 or 30 years. Once your policy matures, or reaches the end of its term, it ceases to exist. Your term life insurance policy expires and your coverage stops.