10 Year Term Life Insurance is a type of life insurance policy that provides coverage for a specific period of time, typically 10 years. During this period, if the insured individual passes away, the policy pays out a death benefit to the designated beneficiaries. If the insured survives the 10-year term, the coverage typically expires, unless the policyholder chooses to renew it. This type of insurance is often chosen for its affordability and simplicity. It offers a straightforward way to secure financial protection for loved ones for a specific period, such as to cover a mortgage or other short-term financial obligations. It's important to note that premiums for 10 Year Term Life Insurance are generally lower compared to permanent life insurance policies, making it an attractive option for individuals seeking temporary coverage. However, once the term ends, the policyholder may need to reapply for coverage, and the premiums may increase based on the individual's age and health at that time.