Term Life Insurance
Simple, Affordable Protection for the People You Love
Life insurance doesn’t have to be complicated.
It’s one of the simplest and most affordable ways to help protect your family’s financial future. You choose the amount of coverage you need and how long you want the protection to last.
What Is Term Life Insurance?
Term life insurance provides coverage for a specific period of time. Depending on the insurance company, terms may include 10, 15, 20, 25, 30 years or longer.
For example, a 20-year term policy can provide a level amount of life insurance protection during those 20 years. Your premium will generally remain level during the guaranteed term, provided the policy remains in force.
Term life insurance is often chosen because it can provide substantial coverage at a relatively affordable premium, especially when purchased at a younger age and in good health.
What Can Term Life Insurance Help Protect?
Think about what would happen financially if your income suddenly disappeared.
Life insurance proceeds can help your family manage important financial responsibilities such as:
- Mortgage or rent payments
- Everyday household expenses
- Credit cards and other debts
- Children’s education
- Replacement of lost income
- Final expenses
- Financial support for a spouse or children
There isn’t one coverage amount that’s right for everyone. Your income, debts, family responsibilities, existing savings and future goals should all be considered.
How Long Should Your Term Life Insurance Last?
A good starting point is to ask:
How many more years will someone depend on my income?
If you have 20 years remaining on your mortgage, for example, a 20-year policy might make sense. Parents with young children may want coverage that lasts until their children are financially independent.
Someone approaching retirement may have a completely different need.
That’s why we believe you should choose your term based on your life — not simply buy whatever policy happens to have the lowest advertised premium.
The Cheapest Policy Isn't Always the Best Policy
Price matters. But it shouldn’t be the only consideration.
Two term life insurance policies with similar premiums can have important differences.
Before purchasing a policy, consider the insurance company’s financial strength, conversion privileges, available riders, underwriting guidelines and how long your conversion option remains available.
A slightly more expensive policy may sometimes provide flexibility that becomes extremely valuable later.
Can You Convert Term Life Insurance to Permanent Insurance?
Many term policies include a conversion privilege that may allow you to convert some or all of your coverage to permanent life insurance without going through new medical underwriting.
The exact conversion rules, deadlines, and available permanent products depend on the insurance company and policy.
This can become important if your health changes later in life.
If having the option for lifetime coverage in the future matters to you, ask about conversion privileges before purchasing your term policy.
Do I Need a Medical Exam?
Not always.
Depending on your age, health, coverage amount and insurance company, you may qualify for term life insurance without a traditional medical exam.
Some applicants may receive an accelerated underwriting decision based on information available to the insurance company. Others may be asked to complete a medical exam or provide additional medical information.
We’ll help you understand your options before you apply.
How Much Does Life Insurance Cost?
Your premium can depend on several factors, including:
Age • Health • Coverage Amount • Length of Term • Tobacco Use • Medical History • Family History • Occupation • Lifestyle
Generally, buying life insurance when you’re younger and healthier can help you qualify for better rates.
But don’t assume that a medical condition automatically makes life insurance unaffordable. Different insurance companies can evaluate health conditions differently.
That’s one reason comparing companies can matter.
See What Life Insurance May Cost You
Life insurance rates can vary significantly by age, health, coverage amount, and insurance company. Compare available term life insurance options and find coverage that fits your needs and budget.
Term Life vs. Permanent Life Insurance
Term life insurance is designed primarily to provide affordable protection for a specific period.
Permanent insurance — such as whole life or certain universal life policies — is designed to provide coverage for your lifetime when properly funded and maintained in accordance with the policy requirements.
Neither approach is automatically right for everyone.
Some people even combine the two: a larger term policy for temporary needs such as income replacement and a smaller permanent policy for lifelong needs.
The right approach depends on what you’re trying to protect and what comfortably fits your budget.
Why InsureInMinutes.com?
Buying life insurance is personal. We believe getting it should feel straightforward.
With Coverage Alliance Insurance Services, you can compare available options and get help from a licensed insurance professional when you want it.
No high-pressure sales pitch. No need to figure everything out yourself.
Our goal is simple: help you understand your choices so you can make a decision that feels right for you and your family.
Ready to See Your Options?
You don’t have to make a decision today.
Start by seeing what coverage may cost.
Compare Term Life Insurance Quotes
Or, if you’d rather talk to someone first, we’re happy to help.
Call Toll-Free: 1-866-526-7264
Coverage Alliance Insurance Services
Beverly Hills, California
Serving clients in most states.
Insurance availability, policy features, underwriting requirements, and premiums vary by insurance company, applicant, state, and product. All applications are subject to insurance company underwriting and approval.
Frequently Asked Questions About Term Life Insurance
When the original term ends, your coverage may end, or you may have the option to continue the policy at a higher premium, depending on the policy. Some policies also provide an opportunity to convert coverage to permanent life insurance before a specified deadline. Check the renewal and conversion provisions of your policy before your term expires.
Possibly. Some insurance companies offer accelerated underwriting or no-medical-exam options for qualified applicants. Eligibility can depend on your age, health history, coverage amount, and the insurance company’s underwriting guidelines.
Think about how long your family may depend on your income and how long major financial obligations will remain. For example, someone with young children or many years remaining on a mortgage may want a longer term than someone approaching retirement.
Many term policies offer a conversion privilege that may allow you to convert eligible coverage to permanent life insurance without new medical underwriting. However, conversion deadlines, available products, and other requirements vary by policy and insurance company.
Consider how much income your family would need to replace, along with your mortgage, debts, children’s education, final expenses, and other financial obligations. Then consider existing savings, investments, and other life insurance coverage. Your individual needs and budget should determine the amount that’s appropriate for you.
Reviewed by Dan Kampani
Licensed Insurance Professional
Coverage Alliance Insurance Services
Serving insurance clients since 2001
NPN 3203636