Term life insurance is a type of life insurance that provides coverage for a specific period of time, known as the “term.” If the insured person passes away during the term, the insurance company pays out a death benefit to the designated beneficiaries. If the insured person survives the term, the policy typically expires without any payout.

Buying term life insurance is an important decision that can provide financial security for your loved ones in case of your untimely passing. To make the right choices, it’s important to avoid common mistakes. Here are five mistakes to avoid when buying term life insurance:

-Not Adequately Assessing Your Needs
-Choosing the Wrong Term Length
-Focusing Solely on Price
-Not Disclosing Relevant Information
-Not Comparing Multiple Quotes