What is OPTerm 20 life insurance?

OPTerm 20 is a type of term life insurance policy that provides coverage for a period of 20 years. It is offered by many insurance companies and is a popular option for those who want to ensure their loved ones are protected financially in the event of their unexpected death. As a term life insurance policy, OPTerm 20 provides coverage for a specific period of time, in this case 20 years. The policyholder pays a premium, which is typically lower than permanent life insurance premiums, in exchange for the death benefit payout if they were to pass away during the coverage period. If the policyholder outlives the coverage period, the policy expires and no benefits are paid out. OPTerm 20 is a level term policy, which means that the premium and coverage amount remain the same throughout the 20-year term. This can make it easier for individuals and families to budget and plan for their insurance needs. It is important to note that OPTerm 20 is not a savings or investment product and does not build cash value over time. It is designed to provide affordable, temporary coverage for a specific period of time.