Hailee Steinfeld is in negotiations to co-star with Vince Vaughn in Universal’s “Term Life.”

Peter Billingsley is directing with A.J. Lieberman penning the script. The pic is based on the graphic novel that Lieberman created with Nick Thornborrow.

The film follows a man who plans and sells heists to the highest bidder, but when his latest job goes horribly wrong he finds himself hunted by everyone he knows. He must do the only thing he can think of: takes out a life insurance policy on himself with his estranged daughter as the beneficiary. Unfortunately, the policy doesn’t go into effect for 21 days and he is forced go on the run with a girl he barely knows.

Vaughn, Micah Mason and Victoria Vaughn are producing for Wild West Picture Show Productions. VP of production Kristin Lowe will oversee the project for Universal.

Steinfeld can be seen next in Summit’s “Ender’s Game.” She is repped by ICM Partners and Coast to Coast Talent.

The Wrap broke the news.