Term life insurance provides a level of death protection for a stated period of time that is agreed upon by the insured and the insurer. Many protest that term life insurance has to be the simplest form of life insurance available for people seeking out coverage.
This particular form of insurance was developed in order to provide forms of temporary life insurance coverage to people that are on a fixed income or in other words, a limited budget. Since this type of life insurance coverage can be obtained for a relatively small amount term life insurance is well suited for both long term as well as short term goals.
Short range goals would be certain things like utilizing your life insurance coverage to pay off an existing loan or provide a form of supplemental protection during the time that your children still reside in your home. These policies can be issued on a term that consists of 5, 10, 20 and even 30 year intervals.