---
title: "What Is Term Life Insurance? Definition | Epic Life Glossary"
description: "Term life insurance is coverage that lasts for a fixed period, such as 10, 20, or 30 years. It pays a death benefit only if the insured dies during that..."
url: https://epicline.preview.multisites.ai/glossary/term-life-insurance
publisher: Epic Life Group
apply: https://epicline.preview.multisites.ai/apply
quote: https://epicline.preview.multisites.ai/get-a-quote
---

Policy types and products

# Term Life Insurance

Term life insurance is coverage that lasts for a fixed period, such as 10, 20, or 30 years. It pays a death benefit only if the insured dies during that term. It usually builds no cash value.

## Why it matters

Term life is often the lowest cost way to buy a large amount of coverage. Families use it to cover years when they have the most financial risk, such as raising children or paying a mortgage. If the term ends and the insured is still alive, coverage ends unless the policy is renewed or converted, often at a higher price. Available term lengths and conversion rules differ by carrier. Agents compare quotes across carriers because rates vary with age, health, and tobacco use.

Source: [iii.org](https://www.iii.org/article/what-are-the-different-types-of-term-life-insurance-policies)

[Read next, for familiesTerm life insurance: how it works, what drives price, and when it ends](https://epicline.preview.multisites.ai/life-insurance/term-life)

## Where we use this term

-   [Mortgage protection vs term life vs PMI: who does each one protect?](https://epicline.preview.multisites.ai/guides/mortgage-protection-vs-term-life-vs-pmi)
-   [Mortgage protection insurance: what it is, what it is not, and what to compare](https://epicline.preview.multisites.ai/life-insurance/mortgage-protection)
-   [Whole life insurance: how cash value works, what it costs, and who it fits](https://epicline.preview.multisites.ai/life-insurance/whole-life)
-   [Which carriers can Epic Life agents sell for?](https://epicline.preview.multisites.ai/careers/carriers)

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