A Type of Life Insurance

Term life insurance is a type of life insurance that provides coverage for a specific period, or term, chosen by the policyholder. It’s typically the most straightforward and affordable life insurance option by covering for a set "term" (life insurance terms are typically 10 to 30 years). If the policyholderpasses away during the term period, the beneficiaries receive a cash payment, called a death benefit.
However, if the term expires and the insured is still alive, the policy typically doesn't offer any payout or cash value