This means you have life insurance protection that will last for a duration of 20 years.
The premium you pay for your life insurance p-policy will remain the same each year you are insured.
In addition, the amount of life insurance provided by your policy remains level, never decreasing throughout the life of your 20 year term life plan.
If you pass away during the 20 year term, the death benefit is paid out to the beneficiary of your life insurance policy.
If you outlive the 20 year term, there is no payout of any benefits.
Learn more about term life insurance with a 20 year term.