Term Life Insurance is a type of life insurance policy that provides coverage for a specific period of time, known as the "term." If the insured person passes away during this term, the beneficiary receives a death benefit. However, if the policyholder outlives the term, the coverage expires with no payout.

Term life insurance is often chosen because it offers affordable premiums compared to permanent life insurance policies. It's designed to provide financial protection for your loved ones during critical periods of your life, such as while raising children, paying off a mortgage, or covering other long-term financial responsibilities.