The "term" of the policy is the duration of time or which you are insured.
Life insurance companies may offer "terms" of 10, 15, 20, 25 or 30 years, depending on your age.
The longer your life insurance policy "term", the higher your cost of coverage.
If you outlive the policy "term", the life insurance expires, with no payout of any benefits.
If you pass away during the policy "term", the death benefit is paid put the your beneficiary, subject to any exclusions stated in your life insurance contract (policy).
Learn more about how term insurance works.