20 year term life insurance means that you have life insurance protection for a period of 20 years, and your rate will remain level for the entire duration of that 20 year term.
Also, the amount of life insurance protection stays the same each year for the 20 year period of time.
However, if you outlive the 20 year term, your life insurance policy expires and no death benefit is paid out on the policy. This is one reason term life insurance costs a lot less than permanent life insurance protection.
Term life insurance usually offers life insurance terms for a period of 10, 15, 20 or 30 years, depending on your age and health.
Learn more about
20 year term life insurance policies.
