Term insurance

Term insurance — life insurance that pays a death benefit if you die during the covered term, and nothing else: no investment component, no cash value, no bundle. That purity is why it costs a fraction of a VUL premium for identical coverage. Needed only if someone depends on your income; pair with “buy term, invest the difference” from lesson 0.4.

First used in: 1.2 · The PH order of operations