There are two basic types of life insurance, permanent life insurance, which provides lifetime coverage, and term life insurance, which provides temporary life insurance for a set period of time.
Term life may provide life insurance for 10, 15, 20 or even 30 years, or until you reach a certain age, such as, age 65 or 70.
Term life insurance expires if you outlive the term of your policy. For instance, if you have a 10 year term life plan and outlive the 10 years, then your life insurance expires.
However, you may choose to add the option of renewability to your policy when you purchase it, which provides you the ability to renew your term life plan for another term for instance, another 10 years), without having to take a physical exam to qualify for the additional term. Learn more about how term life insurance works.