Sometimes life does not always go as planned, which is one big reason term life insurance is a great financial product to own. But what happens if you suddenly can’t afford to pay the premiums on time? Maybe you were injured and are out of work, or an emergency called for a large amount of your savings, or you simply forgot to send in the check; whatever the reason, you suddenly realize you didn’t pay your premiums. What happens now?
A term life insurance policy is a contract between you and the life insurance company. You agree to pay a certain amount and they promise to pay out a lump-sum to your