The policy term is the duration of time you are insured for life insurance under a term life policy.
Usually, life insurance carriers offering term life provide policy terms of 10, 15, 20, 25 or 30 years of coverage.
However, some insurers offer 35 or 40 year policy terms.
If you outlive the term of your term life policy, the coverage ends, with bio payout.
Whereas, ion you die during the policy term, the death benefit is paid out to your beneficiary.
Learn more about temporary life insurance coverage.