10 year level 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, the premium and death benefit remain level, meaning they do not change. If the insured individual passes away within the 10-year term, the policy pays out the death benefit to the designated beneficiaries. However, if the insured individual outlives the term, the policy expires and no death benefit is paid out. This type of policy is often chosen by individuals who have short-term financial obligations or who want coverage for a specific period of time. It provides a level of financial protection during the term, but it does not accumulate cash value like some other types of life insurance policies. It's important to note that once the 10-year term is over, the policyholder may have the option to renew the policy, but the premium will likely increase based on the insured individual's age and health at that time. It's recommended to review and compare different life insurance options to determine the best fit for individual needs and financial goals.