A 10 year Level Term Life Insurance policy refers to a life insurance policy that will not go up in price for 10 years.

It also should have the same face amount of life insurance protection for 10 years.

Without a rider endorsement added to the life insurance policy stating otherwise, after 10 years, either the term life insurance policy coverage will lapse, or the premium will increase to a very high amount and will no longer be guaranteed to remain level each year. So, afte...

A Ten Year level Term Life Insurance is life insurance that will not go up in price for period of 10 years.

It may have the option to be extended beyond that time, but the premium will be much higher when the 10 year term is complete - this is called renewable term life insurance which allows you to renew your term life policy for an additional 10 year term when the first policy expires.

It does not have any cash value. Some 10 year level Term policies can be converted to a pe...