Term life is temporary coverage lasting up to 30 years, usually.
However, you select your policy term from 10, 15, 20, 25, 30, 35 or 40 years of coverage. The longer your term, the higher your annual cost of coverage.
If you die before the policy term ends, the death benefit is paid out to your beneficiary.
If you are alive when the coverage expires, there is no payout of any benefits, and the life insurance coverage ends.
Whereas, whole life insurance provides permanent lifetime protection, builds some cash value inside the policy over time, and pays out a death benefit upon your death.
Whole life insurance can cost up to 5-10 times more than the same amount of term life insurance.
Learn more about term life vs whole life insurance policies.