Let’s say you are 35 and purchase a 30-year policy (coverage until you reach 65) that, upon death, pays out $2,500 per month. If you die five years later at age 40, your family would receive $2,500 per month for 25 years ($750,000 total payments).
Your beneficiary is guaranteed a minimum five-year payout. So in this example, if you die at age 62, your family would receive $2,500 per month for five years ($150,000 total). The monthly benefit will never change. The total benefit will depend on your policy duration and when the payouts begin.
MORE Term vs. Whole Life Insurance