Buying Tips For Term Life Insurance:

Term life insurance is used when people need life insurance coverage for a specific period of time
Term life insurance is also used by people that cannot afford or want to pay for the higher expense of whole life insurance
Buy term with a fixed, level premium
On a non fixed term policy, annual premiums will typically increase at set intervals of, say, 5 years or 10 years.
Consider getting a term life insurance policy with guaranteed renewability in case you become critically ill
Consider the use of "critical care illness" insurance as a supplement to a term life insurance policy.
Select a term policy to coincide with your main income or college years for children or some other finite, scheduled event.
When your term life insurance contract expires, then you must leave or lose the benefit from the term life insurance and no benefit is payable.
If you miss payments on your term life insurance contract, the policy will be cancelled and you'd be without benefits.
Consider a term life insurance policy with a conversion option that allows you to "convert" to whole life insurance without submitting evidence of insurability.
Consider future insurance needs and whether you should lock in the low rates now and get a longer term (20 or 30 year?) contract, instead of paying more later.