The long-gestating "Term Life" film adaptation is finally a reality. The first official trailer has dropped for the Vince Vaughn/Hailee Steinfeld flick, based on the Image Comics OGN of the same name.

Check out the trailer below:

In addition to a trailer, the following official poster for "Term Life" was released:

Due to layoffs at Universal Studios a couple years back, the film was given the axe -- until it was later revived by financiers and producers QED International and Worldview. WWE Studios is also producing.

"Term Life" comes from a screenplay by original scribe AJ Lieberman ("Malcolm & Eddie") and is directed by frequent Vaughn collaborator Peter Billingsley ("Couples Retreat"). The film also stars Taraji P. Henson ("Empire"), Bill Paxton ("Agents of S.H.I.E.L.D.") and "Iron Man's" Jon Favreau and Terrence Howard.

Based on the 2011 OGN by Lieberman and artist Nick Thornborrow, the description text for "Term Life" (via Amazon) is as follows: "If Nick Barrow can stay alive for 21 days he'll die happy! Everyone Nick knows wants him dead; Mob bosses, contract killers, and dirty cops. Performing the last act of a desperate man, Nick takes out a million dollar insurance policy on himself, payable to his estranged daughter. The problem? The policy doesn't take effect for 21 days... and Nick knows they'll be lucky to be alive for twenty-one hours!"

"Term Life" hits screens on March 1, 2016.