Term life insurance is an affordable option Term life insurance is a simple product designed to provide a tax-free payment to the people you choose, known as your beneficiaries, upon your passing. These policies provide coverage for a set period of time, which means it could end while you’re still living. And it can be a great starting point for securing protection for your loved ones. Personal information is used to receive your term insurance quote. Pacific Advisors will not share your personal information.