Term life insurance
- A type of life insurance that covers you for a set amount of time (e.g. 10, 15, 20, 30 years).
- You can choose the time length and you can renew your policy when the initial term length comes to an end. But your premiums (monthly or annual fees) may increase after you renew. The policy has an expiry date at which time it will end.
- Some term policies will let you convert to permanent life insurance.