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 beneficiary you choose will receive your life insurance death benefit.
If you are alive when the term ends, your life insurance coverage ends. You may choose rot renew your term life insurance for another term, usually 10 years, when your first term life policy expires.
