If you are looking for a short-term life insurance policy, buying a one-year term life insurance policy may be something for you to consider. Buying a one-year term life insurance policy may be a good option for you if you are not ready to buy a long-term policy(potentially because your life is in transition).  And because a one-year term life plan can be renewable, you may not have to re-qualify for a policy extension. To find out more about renewable life insurance, visit the article “What is Renewable Term Life Insurance?”

Perhaps your life is in flux. A one-year term life policy may help to protect your beneficiaries in the event of an untimely death. A one-year term life insurance policy may be able to help beneficiaries pay for things like: burial expenses, credit card bills, mortgage payments and tuition bills after you are gone.

If you’re not sure whether term life insurance may be right for you, or if whole life insurance may be better for you, here are some differences. One main difference between term life insurance and whole life insurance is this — term life may cover you for a specific time period or term, in this case a one-year term life insurance policy, while whole life may cover you for your whole life. In most cases, a term life insurance policy may cost less than a whole life insurance policy.

Besides the one-year term life insurance policy, there may be other terms available as well, like five-year, 10 year, 15 year, 20 year, 25 year and in some cases, even 30 year term life insurance policies.