What is Term Life Insurance

What is life insurance.  I think we need to determine what is the meaning of life.   Is it for the whole life of the person being insured or is it for the life of the insurance policy?   It can be quite confusing with a lot of permutations.   If you want to protect yourself to your natural death and also maybe benefit some of your descendents with the pay offs, you may want to get a whole life insurance till you pass away.   But that is going to be expensive and it also depends on your risk appetite and financial requirements.  

Another sort of life insurance is to insured you by terms.   For example you may want to insured yourself for 5 to 10 years because this is an important period of your life and you do not want anything unusual to happen, or if it happens, you are covered by insurance?  This is one kind to take.   A lot of companies also do offer term life insurance to their employees.   But normally such terms end when the employees leave the company.   Of course there are always ways to arrange such that the employees can continue the insurance by paying it himself etc.