Richard Storelee, Insurance Agent By Day... Term Insurance: Term life insurance policies only pay out benefits if you die.  And they also have specified length terms, hence the name term insurance.  If you live past the length specified in your policy, you would receive no money or benefits from the insurance company.  You can buy term insurance that stops after 10 or 20 years, or continues on past the age of 70.  So it's important to know the details and the exact terms of a this type of insurance policy.  It may be that permanent life insurance is a better choice for you.  The upside of term life insurance is the premiums are lower than permanent insurance, making it more affordable.  If you feel that you need more financial stability in your early years because your net worth is still young and growing, but are not concerned after 10 to 20 years, this might be the right choice for you. If you plan on keeping the policy for less than 10 years, term is clearly the choice for you.  So if you're not sure what's right for you just give me a call and I'll tell you.