Term life insurance plans offer you life insurance for a set period of time. When you apply for term insurance you choose a time frame for your coverage. Usually, term life policies offer life insurance protection for a period of 10, 15, 20 or 30 years.
A 10 year term life plan provides life insurance protection for 10 years. If you die during this term, your beneficiary would receive a death benefit payout from your life insurance policy.
If you outlive the term of your policy, the life insurance coverage expires. You can choose to buy another term life policy at that time, but the rate your pay may increase based on your health and age at that time.
You can request quote comparisons for 10 year term life insurance rates online and compare pricing from several highly-rated life insurers to help you find the most affordable term life plan for 10 years of coverage.