Should I Take A 15 Years Term Life Insurance? 
First things first , this does not sound like a `` term '' policy . A term policy includes a paid premium and at the end of the designated time of coverage , the policy `` terms '' or cancels . Many policies will offer a guaranteed continuation of coverage , however this is at a MUCH higher rate than the term portion of the policy . What you are explaining sounds some what like a Universal Life policy with a guaranteed premium of 15 years . With the way interest rates are today , I find it hard to believe you would receive $ 50,000 at the end of the `` term '' , regardless of what kind of policy it is . The one thing to remember , is any insurance policy which offers guaranteed pay outs are based on assumptions in the market . My golden rule when selling life insurance is if you need it for debt , pay ONLY for term coverage . If you need it for income replacement or final expenses , go with whole life . Only if you have the money to spare on not so risky `` investments '' , is a Universal Life policy fitting . -LRB- My opinion only and sure to be argued by other agents . -RRB- 