Usually, you can purchase a term life insurance policy offering coverage for either 10, 15, 20, 25 or 30 years.
If the insured person dies during the policy "Term", the death benefit is paid out to the beneficiary of the insurance plan.
If you are alive when your term life plan ends, your coverage expires with no payout of any benefits.
Term insurance offers the most affordable type of life insurance lasting for a period of 30 years, or less.
Learn more about term insurance policies and how they work.