What Is The Definition Of Term Life Insurance? 
Term life insurance is a product that indemnifies yourbeneficiaries and/or business partners during defined periods of economic exposure . T.E.R.M. is Temporary ExpenseReimbursementMoney . It is generally sold in 5 years guaranteed increments like 5 , 10 , 15 , 20 , 25 and 30 years . Keep in mind that term life insurance should have a convertibility option in case your economic exposure becomespermanent . 