Term life insurance is the most simplest and original form of life insurance, it has the cheapest premium because it provides no cash value to the buyer, and there will be no saving or refund of premium. This is fair enough because this policy is designed solely for life protection, and very inexpensive premium is required.

As the name implies, term life insurance insures the buyer a specific term of his or her life only, once that term is expired; the buyer has the option to renew the policy at an increased premium or discontinue or purchase a new policy. This is much recommended to those who can