Shirley has a $500,000 10-year non-renewable level term life policy. If she dies 15 years after the policy's inception date, how much will her beneficiary receive?

In a non-renewable level term life insurance policy, the coverage is in effect for a specified period, which in this case is 10 years. Once that term expires, the policy does not provide coverage or benefits unless it is renewed or converted to a whole life policy. Since Shirley's policy lasts for 10 years and she dies 15 years after the inception date, the policy has lapsed, and no benefits will be payable to her beneficiary.

Thus, the beneficiary will receive nothing, aligning with the understanding that term life insurance provides a death benefit only if the insured passes away within the active term of the policy. Since Shirley's death occurred outside of this period, the correct answer reflects that there are no benefits to be disbursed.