What Is A 20 Year Term Life Insurance? 
A 20 year term policy is a life insurance policy that has a level premium for 20 years . In other words your premium can not change regardless of change in health , occupation , or residence . Be careful though , not all term policies are guaranteed level . You may cancel the policy at anytime . Therefore the risk is with the life insurance company . A term policy is primarily used to create an instant estate upon the sudden death of a income earner to replace income , payoff debt or fund a child 's education fund . To avoid costly mistakes , you should seek the advice of an experienced broker . 