What Is A Term Life Insurance Policy? 
Generally speaking , Term Life Insurance lasts for a `` term '' of time , whereas Whole Life Insurance lasts your `` whole life '' . Term life insurance usually stays the same price for a set number of years , then it ends , or else it goes way up in price . Because of that price increase , most people buy a new term policy when the term is up , if their health allows . Some term policies allow you to convert them to permanent insurance before the term ends . 