A 10 year term life insurance policy provides coverage for a specific period of 10 years. During this time, if the insured individual passes away, the policy pays out a death benefit to the designated beneficiaries. This type of policy is a form of temporary life insurance, offering coverage for a set period rather than the insured's entire lifetime. It is often chosen to provide financial protection during a specific time frame, such as until children are grown or until a mortgage is paid off. Premiums for 10 year term life insurance are typically lower than those for permanent life insurance, making it an attractive option for individuals seeking affordable coverage for a specific period. However, once the 10 year term is over, the policy may expire or require renewal at a higher premium rate based on the insured's age and health at that time. It's important to carefully consider individual financial needs and goals when choosing a life insurance policy, including the duration of coverage and the amount of the death benefit.