# Term Life Insurance

**IRI:** https://folio.openlegalstandard.org/R8tHU2UcmJzAEBDUdM51ays

## Labels

## Definition

Term life insurance is a policy that provides coverage for a specified period, or "term," usually ranging from 10 to 30 years. If the insured individual dies within this term, the death benefit is paid out to the beneficiaries; however, if the term expires and the policyholder is still alive, there is generally no payout.

## Sub Class Of

- https://folio.openlegalstandard.org/RDMlfBHhw2Mfk0FBrVCQJY9

**Deprecated:** False