Term life insurance is a type of life insurance that helps cover expenses, remaining debt, leave a legacy, or keeps your family in their home in the absence of your income due to your passing.

Term life insurance can be purchased for 10, 15, 20, 25, 30, 35 or 40 year terms and for at least $50,000 to $10,000,000 death benefit. Once the term is up, you either need to purchase a new plan at that current age or go without.

There are multiple riders or "add-ons" you can add to your policy like children's rider, return of premium, or terminal illness rider. Some term life insurance policies already come with terminal illness rider which means you can use the death benefit for terminal illness expenses, when you are diagnosed with a terminal illness, while you are still alive.

The death benefit can be used to protect your family's financial situation by covering expenses, such as: