What Is A Term Life Insurance Plan? 
A term life insurance plan is a policy that stays in effect for a certain number of years . Those number of years are the `` term '' of the policy . E.g. 10 year term life insurance will last 10 years . After that , the price will jump up very high -LRB- usually at least 10 times as much as the original premium -RRB- or the policy will end . Some term policies guarantee the premium and face amount to stay the same for the entire term . Others do not provide that guarantee . Also , some term plans allow you to convert the term policy to permanent at some time before the term ends . 