A term life insurance is created to cover you for a certain period of time, it offers the possibility to choose the term for which you will be insured, this can range from 10 to 30 years, depending on the companies. At Olé we offer you coverage up to 85 years of age with a fix premium during the whole contract term, meaning that there will be no annual increases and as long as you maintain the same coverage you will always pay the same. Term or temporary life insurance is usually cheaper than permanent life insurance, which offers you lifetime coverage.