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, after ten years, if you kept the coverage, the premiums would be much higher.

Learn more about 10 year term life insurance coverage and how it works.