Term Insurance Turns Long Term
New York Times (08/04/02) p.3; Treaster, Joseph B.

Thirty-year term insurance policies are growing in popularity, according to this article, and last month the long-term policies became available in New York state for the first time. The 30-year policies, which some say appeal to younger customers in their 40s, allow policyholders to lock in a set annual cost and protect against coverage changes due to deteriorating health. Some consumer advocates and insurers warn, however, that 30-year policies require a commitment and are more expensive than shorter-term policies.

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