Well, a term life insurance policy is life insurance that lasts for a speciic number of years.
For instance, if you have a mortgage on your home you may want to buy a 30 year term life insurance plan so your spouse has the money needed to pay off the home mortgage loan in case you die before it is fully repaid. That way, your family can stay in their home even if you are no longer there to make the mortgage payments each month.
With term life you have the flexibility to choose the length of your life insurance coverage usually from terms of 10, 15, 20 or 30 years.
Also, you only pay for your life insurance while you need it.
And, this saves you a lot of money because permanent life insurance usually costs 3 to 5 times more for the same amount of coverage compared to term life.
Read the full definition of term life insurance to learn more.