What Is A 10 Year Life Insurance Policy? 
A 10 year life insurance policy means you have a policy providing you with 10 years of coverage , a death benefit . In most cases the premium is guaranteed for the initial 10 years . After 10 years , the policy may revert to an annual renewable meaning the premium is not guaranteed . Please so your homework before purchasing a 10 year life insurance policy . I run into people all the time who have a 10 year where they are near the end of the term and need more or longer coverage . Look at a longer term , up to 30 years and lock in your premium for that term . ; It all comes down to what you are trying to accomplish . If your goal is for only 10 years or less , then this policy maybe perfect for your needs . 