Coverage length for a life insurance policy means the length of time that your
life insurance policy will stay In effect - how long you will have the life insurance coverage.
Usually, the coverage length of a life insurance policy is
referring to how long the policy will stay in effect at a level premium (level
meaning the premium is guaranteed not to go up).
The life insurance coverage length assumes
that premium payments are made on time and if a policy loan is taken from the cash value inside the policy (permanent life insurance), that it is repaid
per the policy guidelines.
Usually, a term life insurance policy has level premiums for a period of up to 30 years, while a permanent life insurance policy has guaranteed level premiums for your entire lifetime.
So, term life insurance offers temporary coverage while permanent life insurance provides lifetime coverage.