Term life insurance is a type of life insurance that provides coverage for a specified term or period, such as 10, 20, or 30 years. If the insured person dies during the term, the policy pays a death benefit to the beneficiaries. Unlike whole life insurance, term life insurance does not accumulate cash value over time, and it is designed purely for death benefit protection. Once the term expires, the coverage ends unless the policy is renewed or converted to a different type of policy. Term life insurance is often chosen for its affordability and straightforward coverage for a specific time frame.