Jon Favreau and Vince Vaughn are to team up once again in the Vaughn led flick, Term Life, say Deadline.

In the film, Vaughn plays a career thief who plans and sells heists to the highest bidder, but who takes his daughter (played by Hailee Steinfeld) on the run when a job goes bad - after taking out an insurance policy on himself.

The flick is already shooting and is being helmed by Peter Billingsley who has worked with both Vaughn and Favreau before a lot, most recently making his directorial debut on the hit comedy Couples Retreat.

Vaughn hasn’t had a hit movie since then, with his latest, The Delivery Man, bombing both commercially and critically. But he’s arguably at his best when bouncing off his Swingers pal, Favreau, as seen in both The Break Up and in some moments in Couples Retreat.

Favreau’s latest as writer/director/star , a return to character driven comedy after Iron Man, Chef, is garnering great early buzz and looks very funny.