It's a type of life insurance policy that provides you with insurance protection on your life for a duration of up to 30 years, usually.
Term life is also known as temporary life insurance coverage.
Usually, you may choose a policy duration (Term) of 10, 15, 20, 25 or 30 years. But the maximum term period will vary based on your age and health.
The longer your policy duration, the higher your annual cost of life insurance coverage.
If you are alive when your term life coverage expires, there is no payout of any death benefits to your beneficiary, as you are still alive.