It's a type of temporary life insurance policy that provides a death benefit but no cash value build up inside the policy.
Term life usually offers coverage up to thirty years, but you may be able to choose a policy lasting for a duration of 10, 15, 20, 25, 30, 35, or 40 years.
The longer your life insurance policy term, the higher your annual cost of coverage.
If you outlive the policy duration, the life insurance coverage expires.
However, if you die during the policy term, the death benefit from your life insurance policy is paid out to your beneficiary.