For example, a term life insurance plan provides short term protection for a period of up to 30 years.
Compared to a permanent life insurance policy which provides life insurance that is guaranteed to last your entire lifetime, as long as you pay the premiums on time.
A term life policy costs much less than permanent life insurance and one mani reason is because it is temporary, usually lasting for a term of 10, 15, 20 or 30 years.
Term life gives you the flexibility to pay for coverage only while you need it. So, if you have a home loan and you want your family to have money to pay off the mortgage if you pass away, so they can remain y=in your home, then you would buy a term life policy with a "term" of 15, 20 or 30 years, whichever matches the length of time your loan will last.
There are many reasons people buy short term life insurance including to provide protection for home loans, student loans, car loans, college education for your child, or income replacement for the primary bread-winner in a family.
Learn more about short term life insurance and how it works.