The main advantage of term insurance lies in protection. Term insurance is a type of life insurance that provides coverage for a specific period of time, such as 10 or 20 years. If the insured person dies during the term of the policy, the death benefit is paid to the beneficiaries. Term insurance is a relatively inexpensive way to provide financial protection for your loved ones in the event of your death.
Thrift is the quality of being careful with money and saving it. Savings is the act of putting money aside for future use. Price is the amount of money that is asked for something.
While thrift and savings are important, they are not the main advantages of term insurance. The main advantage of term insurance is that it provides protection for your loved ones in the event of your death.