1. Peggy MacePRO
    COO and Senior Agent, Outlook Life, All 50 States
    A ten year life insurance policy is a term policy for which the premium will stay the same for ten years. At the end of the ten years, the premium will increase a lot, or the policy will end. Most people choose to apply for a new policy when their ten year policy ends, but not all people can qualify for a new policy at an affordable price due to health conditions or due to being older.
    Answered on December 30, 2013
  2. Founder, DenverWest Insurance Professionals, Inc.,
    A 10 year life insurance policy means you have a policy providing you with 10 years of coverage, a death benefit. In most cases the premium is guaranteed for the initial 10 years.

    After 10 years, the policy may revert to an annual renewable meaning the premium is not guaranteed.

    Please so your homework before purchasing a 10 year life insurance policy. I run into people all the time who have a 10 year where they are near the end of the term and need more or longer coverage. Look at a longer term, up to 30 years and lock in your premium for that term. ;It all comes down to what you are trying to accomplish. If your goal is for only 10 years or less, then this policy maybe perfect for your needs.
    Answered on December 29, 2013

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