Term life insurance
InsuranceFinder coverage guide · Updated September 2026
Term life insurance provides a death benefit if the insured dies during a set term — commonly 10, 20, or 30 years — while premiums are paid and the policy stays in force. Most term designs do not build cash value. When the term ends, coverage usually stops unless the policy is renewed, converted, or replaced.
How term life is usually structured
- Level term — many policies keep the death benefit and premium level for the full term.
- Conversion options — some contracts allow conversion to a permanent policy without new medical underwriting during a window; rules vary.
- Renewal — some terms can renew after the initial period, often at higher ages/rates; read the contract.
- Return-of-premium / specialty designs — less common; only when the form provides them.
Who term life is typically for
Term life is typically used when someone wants a large death benefit for a temporary window — for example income replacement while raising a family or covering a mortgage period — without permanent cash-value features. It is not automatically “better” or “worse” than permanent coverage; it matches a different need.
Contestability and suicide clauses often apply in early years. Material misrepresentation can void or limit payment. Coverage ends if the policy lapses or the term expires without renewal/conversion. Education only — not advice to buy.
Related life coverage guides
Agencies specializing in term life insurance
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