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Choose
You decide The type of coverage you need,
how many years your policy will last (the term) and the coverage amount that will be paid out if you die (the death benefit).
Pay
You pay for the policy in the form of monthly or annual premiums. You can compare quotes from insurers first to see the different rates they charge for coverage.
Claim
If you die while your term life insurance policy is active, the death benefit is paid out to your beneficiaries.