What Does Term Life Insurance Cover? 
Term life insurance covers death by any cause except suicide in the first two years . This includes death by illness -LRB- even if due to a pre-existing condition -RRB- , death caused by accident -LRB- including while flying or participating in dangerous hobbies -RRB- , and death by unknown causes -LRB- such as old age -RRB- . If your life insurance application asked about these things and you disclosed them , you are covered . If , a few years after taking out the Term life insurance policy , you developed a health condition or took up a dangerous hobby that led to death , that is covered , too . Of course , the policy must be in effect at the time of death , which for Term insurance means that you have paid regular premiums and not allowed the policy to lapse . 