It is also known as temporary coverage, because you may outlive the duration of your term life policy.
Usually, you may choose a policy term of 10, 15, 20, 25 or 30 years to meet your specific life insurance needs.
If you pass away while your life insurance coverage is In Force, the death benefit is paid out to your beneficiary.
If you outlive the duration of your coverage, there is no payout of any benefits, and the life insurance expires.
Level Term life insurance usually offers the most affordable life insurance protection for a period of 30 years or less.