When Does Term Life Insurance Payout? 
The basics of this question have already been answered so I want to add a different perspective . Of course , term life insurance pays upon your death if your within the term . There are now term policies which have what we refer to as living benefits . That is , you get access to a percentage of the death benefit when you have a heart attack , cancer , stroke -LRB- & more -RRB- as well as chronic illness situations which we refer to as long-term care type needs . So consider , your term policy now pays upon death , pays when a covered critical illness is diagnosed & pays to when long-term care like needs come up . And the cost in many cases is the same as your straight simple term life insurance policies . If you would like a quote or more information , contact your agent or contact me . 