Anthony,
Term life insurance, provides only death protection without any side funds or cash values (offering the least expensive cost per $1,000 of death coverage purchased).
Term life insurance.
The simplest of all life insurance to understand and the cheapest to buy:
Term life insurance provides death benefit protection without any savings,investment or cash value components for the term of the coverage period.
Term life insurance is available for set periods of time such as 10, 15, 25 or 30 years. With annual renewable term life, your policy automatically renews each year and premiums increase as you get older. Choose level term insurance if you want your premium to stay the same for the duration of the policy. Also available is decreasing term insurance, where premiums remain level but your death benefit declines over time. This is good if you want to cover only a specific debt that decreases, such as a mortgage or business loan. Choose level term insurance if you want your premium to stay the same for the duration of the policy

Great Question.