10 year level term, 15 year level term, 20 year level term or 30 year level term life insurance.
It all depends. Here are a couple of scenarios.
Individual not married and with no children - Why are you buying life insurance? Is it to protect your business if you were to die? Who is the beneficiary? The term, 10, 15, 20 or 30 years depends on the needs of your beneficiary.
Individual not married but with children - The term should be based on the age of the youngest child. For example. If you have 3 children - 2, 10 and 15 years old, then you should consider a 20 or 30 year level term policy because the policy needs to provide coverage and protect your children until the youngest is at least 21 The 20 year term policy will certainly accomplish this.
Married couple with no children - There are some considerations here. You maybe wanting to protect your spouse if you were to die and they had to pay the mortgage or other joint debts. In this case then look at the loans you and find out their terms. If you have a 15 year loan with 15 years remaining then a 15 year term policy would work.
Married couple with children - The term here should also be based on the youngest child. But if you want to provide for a few extra years then consider a 30 year level term life insurance policy.
Businessowner - If you own a business, then have you considered what would happen if you died? Could the surviving owners or the business itself survive without you? Providing level term life insurance policy could be the answer to provide the liquidity and payoff needed. Liquidity is important because your sudden death could cause the business to fail because it may run out of working capital. The surviving owners, may not have the cash to buy the business from your estate. Have you considered providing them with a term life insurance policy. In this case, if you died then the proceeds would payoff the estate in order to provide them with ownership.
There are of course many other scenarios and I am happy to discuss your needs with you.