1) A term life insurance policy does not build up any cash value.

2) Term life insurance policies have adjustable premiums. This means that insurance company may raise or lower premiums at some point specified in the policy. However, premiums may never be raised above the maximum premiums stated in the policy.

3) Level term policies may allow the policyholder to continue coverage past the original coverage period of the policy. The right is usually offered for a specific period, which varies depending on the type of policy.

4) The insured cannot surrender the policy early and withdraw any cash.

5) Term life insurance policies that are renewable allow the policy owner to renew the policy at the end of the term, up to a specified age limit.

6) Conversion of age allows the policyholder to exchange a term life insurance policy for any permanent life insurance policy offered by the Company at any time while the policy is in force.