Term life insurance provides you with life insurance for a specified period of time. Usually, you may purchase term insurance for a "term" (duration) of between 10 to 30 years. However, there are 10, 15, 20, 25 and 30 year term life policies available.
Term life is "pure protection", which means it is solely life insurance, not an investment. If you pass away during the term of your coverage, the beneficiary you choose will receive the death benefit proceeds form your term life policy.
Whole life insurance provides you with guaranteed lifetime life insurance protection for as long as you live. Premiums remain level throughout the life of your coverage. And, your policy may build some cash value inside your policy from which you may take a loan.
Term life rates are much lower than whole life which means you can afford a lot more life insurance by purchasing term insurance.
Learn more about term life insurance versus whole life insurance.