TERM INSURANCE is a type of life insurance that provides coverage for a specified period, known as the term. If the insured person dies during the term of the policy, the insurance company pays a death benefit to the designated beneficiary. Term insurance is designed to provide financial protection for a temporary or specific need, such as paying off a mortgage, funding a child's education, or replacing lost income. Term insurance is often chosen by individuals who need affordable coverage for a specific period and want to protect their loved ones financially in case of premature death. It can be an essential part of financial planning, especially during periods of significant financial obligations or when dependents rely on the insured's income.