Term Life Insurance is life insurance for "temporary" needs that may last up to 30 years, or less.

For example,iIf you have 15 years left on your home mortgage loan, purchasing a 15 to 20 year term life insurance policy is a cost effective way to cover that substantial debt, in case you die within that period of time.

You do not purchase Term life insurance to borrow from it in the future, because Term life insurance does not build up any cash value inside the policy, it is p...