Term Life Insurance Disadvantages:
- Most policies require a medical exam
- It doesn't give you life coverage past 75 or 80
- Your term contract may expire
- Coverage only lasts for a certain period
- You don’t have as many riders as whole life insurance
- Not appropriate for paying estate taxes
- Your premiums usually cannot be lowered
- You cannot ordinarily skip payments
- Seniors aren't usually covered
- You may not be able to get more coverage
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