If you're considering the purchase of term life insurance, then deciding how long you need your term policy to last is one of the most important questions to consider before selecting a policy.

Make sure you figure out your longest financial obligation you want to protect with your life insurance, and then choose a policy duration (term) that helps you accomplish that goal.

Learn more about how long your term life insurance should last.

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The "term" of your term life insurance policy is the amount of time you have life insurance protection.

You choose a "term" when you purchase your term life policy.

The common "terms" available for term life are for a period of 10, 15, 20 or 30 years.

So, if you bought a 20 year term life policy, you would pay your monthly (or yearly) premium to the insurance company in return for a set amount of life insurance protection for a period of 20 years.

If you die during that period of time, the benefi...
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