Term life insurance info.

Life insurance Because term is a pure death benefit, its primary use is to provide coverage of financial responsibilities for the insured or his or her beneficiaries. Such responsibilities may include, but are not limited to, consumer debt, dependent care, university education for dependents, funeral costs, and mortgages. Term life insurance is generally[how often?] chosen in favor of permanent life insurance because term insurance is usually much less expensive (depending on the length of the term)[citation needed]. For example, an individual might choose to obtain a policy whose term expires near his or her retirement age based on the premise that, by the time the individual retires, he or she would have amassed sufficient funds in retirement savings to provide financial security for the dependents life insurance.