What does a 20 year term life insurance policy mean?

What does a 20-year term life insurance policy mean? This is life insurance with a policy term of 20 years. If the policyholder dies during that time, the life insurance company pays a death benefit to his or her beneficiaries, often dependents or family. After 20 years, there is no more coverage, and no benefit paid.

What is 20 year term insurance policy?

It is a level term policy, meaning the premiums that you pay and the coverage amount does not change during the 20 years. A 20-year term life insurance policy is typically a good choice for younger people because it’s a great deal and cheaper than whole life insurance or universal life insurance.

What is a 20 year term life insurance?

Simply put, a 20-year term life insurance policy is an insurance company’s promise to pay a death benefit to your beneficiary in exchange for a periodic premium for the duration of the 20-year period.

What does 20 years to life mean?

It describes a prison sentence in which the sentenced could receive anywhere from 20 years to life in prison. 2. level 1. · 7 yr. ago. 20 to life. You get a certain amount of time in prison. If you get parole, you are on probation forever. Break the terms of release, you go back for life.