First TERM LIFE Trailer Don’t miss the first TERM LIFE trailer! The film, directed by Peter Billingsley (Couples Retreat), stars Vince Vaughn, Hailee Steinfeld, Jon Favreau, Taraji P. Henson, Terrence Howard, Bill Paxton, Jonathan Banks, Mike Epps, Jordi Mollà, and William Levy. TERM LIFE will be released in theaters on March 1. A guy wanted around town by various hit men hopes to stay alive long enough for his life insurance policy to kick in and pay out for his estranged daughter.