Vince Vaughn, Peter Billingsley to Adapt Graphic Novel 'Term Life'

Vince Vaughn is teaming up with Peter Billingsley to adapt the Image Comics graphic novel Term Life.

Vaughn will star and produce the action thriller, which is set up at Universal, while Billingsley, a frequent Vaughn collaborator, will direct.

The graphic novel by A.J. Lieberman and Nick Thornborrow centers on a low-life whom everybody, from mob bosses, contract killers, and dirty cops, want dead. In a rare act of selflessness (and desperation), the man takes out a million-dollar policy to benefit his estranged daughter, but soon after, he realizes it doesn’t take effect for 21 days. The story, laid out in nonlinear fashion, tells of the man’s efforts to make it to the finish line.

PHOTOS: 26 of Summer's Most Anticipated Movies: 'Man of Steel,' 'Wolverine,' 'The Lone Ranger'

Lieberman wrote the script based on his original graphic novel. Vaughn will produce Term Life with his Wild West Picture Show Productions colleagues Victoria Vaughn and Micah Mason.

Billingsley, who is also a principal at the shingle, directed Vaughn in 2009’s Couples Retreat, his helming debut. He was also an executive producer on Vaughn vehicles The Break-Up and Four Christmases.

Vaughn is already set to star in Business Trip for New Regency, which would start in the fall and is casting up.