There are two basic types of life insurance: Term and Permanent.
Permanent life insurance provides you with guaranteed lifetime protection, so your coverage will not expire, it lasts your entire life. However, if you stop paying your premiums, the life insurance coverage will lapse and you may lose your life insurance protection if you do not pay your premiums on time.
Term life insurance is temporary coverage for a specific period of time, called the "term" of your policy.
You may select a term of coverage of 10, 15, 20, 25 or 30 years, usually. If you are alive at the end of your policy term, your life insurance coverage will expire. At the end of your policy term you may be able to renew your term life insurance for another term of up to 10 years.
Learn more about life insurance and how it works