Term is usually the least expensive of the life insurance options. The client decides how long they need coverage and how much they need. Still have kids at home, a mortgage, own a business, or have debt, but don’t plan to have these things forever? Choose a 10 year, 20 year, or 30 year term that fits your specific needs. At the end of that time, the policy will need to be changed, converted, or cancelled. These policies do not build a cash value. Think of it as “renting” protection.