Each year you will have the same amount of life insurance and the life insurance premium will remain level, or the same, for the entire 10 year term of your life insurance policy.
usually, people choose 10 year life insurance coverage to provide protection for financial obligations they have that will last a period of 10 years or less.
For instance, you may have a car loan, home loan, or young child for which you want to provide financial protection for a period of up to 10 years.
If you pass away during the 10 year term, your beneficiary would receive the death benefit, subject to any exclusions in your life insurance policy.
If you outlive the 10 year term, your life insurance coverage would expire, unless you included the option to renew your term life plan when you purchased your 10 year term life insurance coverage.
Here's how you can learn more about 10 year term life insurance.