How Long Does Life Insurance Last? 
There are three main types of life insurance and they have three different intended lengths . Whole-Life Insurance - Designed to stay in force until you die regardless of how long you live . Most people pay a premium on whole-life their entire lifetime but many will pay it in full within 10-years or 20-years . Some pay it with one single premium . Term Life Insurance - Term is a policy that you decide how long yopu want to keep it when you buy it . Most people buy it for either 1-years , 20-years or 30-years . If you try to keep term life insurance too long you will pay a LOT of money to keep it going in the later years . That is usually the result of bad planning . Universal Life -LRB- aka : Flexable Premium Life -RRB- - You COULD keep this policy going for as long as you live but the premium will usually go up a lot unless you die at a younger age . You can change the amount of premium you pay with these policies since they do not have a lifetime rate guarantee . Many people consider these to be time-bomb policies if they are not reviewed and adjusted regularly . 