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...

Continue reading ...

A 20 year term life insurance plan is life insurance that provides coverage for a period of 20 years.

With 20 year level term insurance you pay the same amount of premium each year for the 20 year term, and the amount of life insurance provided stays the same each year.

If the insured dies during the 20 year term, the death benefit is paid out to the beneficiary.

If the insured person outlives the 20 year term, the life insurance coverage ends.

If you have renewable term life, then you can renew ...
Continue reading ...

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...

Continue reading ...

Is there a 40 year term life insurance plan available? 

Also, what is the longest term for term life insurance policies?

I don't know whether there is a 40 year term life insurance plan. That would depend on the life insurance company and what they offer. Also, your age and health would impact your ability to qualify for term life insurance for that long of a duration.

Usually, life insurance companies offer level term life insurance with terms of 10, 15, 20, 25 or 30 years. 

Wit...
Continue reading ...