what is term life insurance

PRUTerm

Now all i did was google that.

OK. i don't know Pru's plan but most term life insurance work in a similar way. just as explained in that cnn website.

so the obvious point is (not based pru's plan, just term life insurance in a nutshell)

1. if the person dies after expiry of the insurance, no payout
2. there's no cash value upon the expiry of the insurance plan. Usually there's cash value to go with the term life plan but it goes like the shape of bell curve. peaks around somewhere in the middle of the term and reducing to zero at
3. term life - indicates that it covers a certain term of your life... 20 years, 22 years... 30 years... etc
4. usually the expiry is like 80. not up to 100

Shortfall?
it's not complete life coverage. but seriously, if i'm 70 with no dependent and all loan paid off, i don't really need anymore life protection. if i'm 70. i need more on things like annuity, medical.

the other problem is the rider part.
say your term life insurance expires at 70, your CI and medical may expire later, but when you buy these 2 riders together with the term life, the riders cannot be longer than your term life insurance, thus ending your medical coverage earlier than intended. my understanding is no insurance company will maintain the riders after the expiry of the term life insurance. if they do, it's ok...