What Does 10 Year Term Life Insurance Mean? 
10 year term life insurance means that the policy will stay the same price for 10 years , then either end , or jump way up in price . Some policies offer a rider to extend the policy beyond 10 years at an additional cost . Normally , after the 10 years of a 10 year term life insurance policy are up , the insured person must apply for a new policy at rates appropriate to their older age and health at that time . Or else they may be able to convert their policy to permanent insurance before the 10 year term ends . The permanent insurance is guaranteed to have the same health rating as the term did , and priced according to the age of the insured at the time of conversion . 