Need life insurance for a period in your life such as 10, maybe 15, or even 30 years of your life? You should look into getting a term life insurance policy. It differs from a permanent life insurance policy in that you would only be covered if you were to die during the years of coverage. You might consider pulling out a policy for term life insurance if you were in debt or maybe you had to pay for a son or daughter's college tuition. This would be beneficial in alleviating any financial burden that would be placed upon your family if you were to pass on during such a time of fiscal responsibility.
There are many lengths of which the policies will span. You could obtain a one year policy but if you were to acquire a terminal illness in year one but pass on one day after the year then you are no longer covered. There is an annual renewable term policy which would allow you to carry the insurance for a fixed number of years with premiums increasing accordingly through the older years.
In starting with an annual renewable term policy it allow you to have the same premium for a given number of years. Because you began with this policy you would take in to account for the years of later life when the premium would rise. This increase would then be averaged out so that over the course of the policy you would maintain the same premium. You may also include a renewable option if the policy would need to be extended. All that and more from Red Chimney.