It depends on which "Policy Term" you select when you purchase your plan.
Usually, an applicant for term life insurance coverage may select a "Policy Term" of 10, 15, 20, 25 or 30 years of protection, depending on your current age and health.
The longer your policy term, the higher your rate per $1,000 of life insurance coverage.
If you outlive the duration of your policy term, the coverage ends with no payout of any benefits.
If you pass away during your policy term, the death benefit is paid out to your beneficiary.