Compared with permanent life insurance which offers lifetime protection, a term life policy has a "term" which identifies the length of time you have life insurance.
There are usually several different term options offered for a term insurance policy, which may include life insurance for 10, 15, 20 or 30 years of protection.
If you pass away during the "term" of your term policy, your beneficiary would receive a payout of the death benefit from your term life insurance.
If you are alive when your term insurance policy expires, there is no payout on your life insurance.