What is short-term life insurance?

Life insurance may be pretty beneficial for financial security, but there are occasions when the coverage is inadequate. Consider the possibility that you are between employment and may benefit from short-term life insurance coverage, for example. It doesn’t matter the reason; there are situations when you may need a life insurance policy that only covers a certain amount of time. So here’s when having short-term life insurance might come in handy.
A temporary life insurance policy and a permanent life insurance policy are the two kinds of life insurance plans available. Limited-term life insurance is a policy meant to provide coverage for people for a short period, usually less than a year in most cases. These plans are often used to close temporary coverage gaps, ensuring that you do not go without the financial stability afforded by a life insurance policy at a difficult time. However, when you’re waiting for a long-term life insurance policy to become active, or if you’re between employment, this is a usual scenario to encounter. In these cases, temporary life insurance and yearly renewable life insurance are two typical forms of short-term life insurance available to you as an alternative to permanent life insurance.