Is Switching from Term to Perm Right for You? – Life Happens
Savings Corner
DECEMBER 23, 2023
Once the term is up, the policy expires, and you no longer have coverage—so your beneficiaries would not receive a death benefit if you died after the term. You could borrow cash value for things like college tuition or retirement income, for example. There is usually no cash value attached to a term life insurance policy.
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