Among the term life policies available are Level Term, Decreasing Term, Renewable Term, Convertible Term and Return of Premium Term Life Insurance.
The most popular and most affordable type of term life plan is Level Term which offers coverage for a duration of 10, 15, 20, 25 or 30 years.
With level term you pay the same amount of premiums each year for the protection, and the amount of life insurance provided by your policy remains level until your coverage expires.
Level term policies may include the option to renew your policy at expiration, and the option to convert your policy into permanent coverage.
In addition, return of premium term life costs a lot more than regular level term coverage because it returns all of your premiums back to you, less any fees, if you outlive the duration of your policy.
Here's how to learn more about term life insurance and how it works.