This is the least expensive form of life insurance available. It protects your family against income loss for a fixed period of 1, 5, 10, 15, or 20 years. You can also purchase a term life insurance plan that covers you to a certain age, such as 65, 75, or 80. Your premiums will stay level throughout the term during which you are covered, but will increase if the policy is renewed. When the term ends, you may or may not need to provide medical evidence in order to renew. Death benefits are paid only if you die during the term covered by the policy.