What if I die before the term life insurance is up

Posted in Term Life Insurance over 2 years ago, 2 replies

I'm 67 and would like to buy term life insurance for 20 years. What happens to the money if I die before the term is up?

submitted by columbus, mi

As I understand it, if you die before the end of the term life policy, the money is paid to your wife or whoever you specify as your beneficiary.

So for example if you had a $1 million, 20 year term life insurance policy and you died before age 87, $1 million would be paid to your family.

Maybe one of the experts on here can confirm.

submitted by Kendall @ July 20, 2009 - 11:32 AM

Hi, I'm an insurance agent and Kendall is correct, the death benefit would be paid to your beneficiary.

submitted by Mark in Los Angeles @ July 20, 2009 - 09:43 PM

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