Oscar nominee Hailee Steinfeld has signed on to star alongside Vince Vaughn in the Universal Pictures action-comedy Term Life.

Vince Vaughn stars a criminal who plans and sells heists to the highest bidder. The man is wanted by mafia bosses, hitmen and corrupt cops all over town, so he takes out a life insurance policy for his estranged teenage daughter (Hailee Steinfeld). He takes his daughter on the run, hoping to stay alive for 21 days until the policy kicks in.

Peter Billingsley (Couples Retreat) is directing from a script by A.J. Lieberman, which is adapted from the graphic novel he co-created with Nick Thornborrow. Vince Vaughn, Victoria Vaughn and Micah Mason are producing for Wild West Picture Show Productions. No production schedule was given.

Hailee Steinfeld stars in the upcoming Ender's Game and Can a Song Save Your Life?, which just debuted at the Toronto International Film Festival.