The 10 year term life insurance policy is one of the most easily explained and simplest types of life insurance. This policy has a guaranteed level premium and level death benefit for 10 years. With some insurance companies the insured is allowed to renew the policy every 10 years until approximately the age of 75.
If you are looking for a high death benefit at a low premium for a short period of time then the 10 year term life insurance policy is an excellent choice. If you therefore have a need for a large amount of life insurance and you have a limited budget the 10 year term life insurance policy may be an ideal fit for you and your family.