What Is 10 Yr Term Life Insurance? 
A 10-year term life insurance policy is a level benefit term life insurance policy that states that the premiums will remain fixed and guaranteed for 10 years . Term life insurance guarantees the premiums will remain fixed for a specific number of years -LRB- 10 , 15 , 20 , 25 , or 30 years -RRB- . After the initial period of premium guarantee expires -LRB- the term period -RRB- , the policy will be annually renewable and premiums will increase each year -LRB- based on age -RRB- . 10-year term policies seem like a great deal because they typically offer the lowest possible premiums for a given amount of coverage . One of the main reasons to buy longer is to protect your insurability and pay a small amount for a longer time instead of securing a new policy when you 're 10 years older and your health has changed . Creating a combination of benefits can often be a great idea -LRB- e.g. having part term and part permanent coverage or having part 10 year term , part 20 year term , etc. -RRB- Please let me know if I can be of further assistance . Thanks very much . 