Term Life Insurance

This is a form of life coverage where protection is provided for a specified period - 10, 20, 30 years (thus referred to as “temporary insurance”).

This helps cater for financial responsibilities with benefits paid to your dependents, but only if you die before maturity of the policy. 

Premiums are considerably less, because it typically does not insure you into old age. This policy works well to protect a young family or to guarantee your kids will get that college education should something happen to you.  

This might also be a policy to consider to continue payment of your mortgage in the event of your death.