Advantages of Term Life Insurance

What are the Advantages of Term Life Insurance?


It’s important to consider term life insurance advantages and disadvantages before purchasing your term life insurance policy.

Make sure you understand your reasons for buying your term life coverage and how long you will need protection for you and your family.

Term life insurance provides life insurance protection for up to 30 years. Many term life plans provide coverage for 10, 15, 20 or 30 years.

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Advantages of Term Life Insurance


  • Premiums are usually much lower for Term life insurance compared to whole life insurance.

  • Term life provides funds for people who depend on you for financial support.

  • Creates an estate to leave to your heirs, if you haven’t had a chance to build much wealth.

  • Level term life insurance premiums remain the same for the term of the policy. So, 20 year level term means your premiums stay the same for 20 years.

  • Provides the maximum life insurance protection for your dependents at the lowest cost.

  • Provides affordable life insurance protection to fit almost any budget.

  • Many term life policies offer you the option to convert your coverage to whole life insurance by some future date, (without having to prove insurability – taking a medical exam).


Disadvantages of Term Life Insurance


  • If you outlive your term insurance policy, your premiums to buy a new policy will be much more expensive.

  • If you do convert your term insurance to whole life – your premiums will be much higher for the same amount of coverage.

  • Premiums usually increase with age, unless you buy level term life insurance.

  • When your policy expires, you may not be in good health, and unable to qualify for another life insurance policy at that time.


Term Life Insurance Quotes


Top Pick – JRC Insurance Group

JRC Insurance Group helps you shop, compare and save on life insurance. Regardless of your age or health background, we'll shop our 40+ insurance companies and find you affordable life insurance you need to protect your family and fit your budget. Compare the best life insurance rates for savings up to 73%. Get Your FREE Quote.


Highly Recommended – Haven Life

  • Get up to $1,000,000 of affordable term life insurance today
  • Apply online in under 20 minutes, start coverage today
  • Backed by MassMutual, rated A++ by AM Best

Haven Life uses the information provided in your application to make an instant decision on your application. Healthy, qualified applicants (based on the information provided in your life insurance application) can be insured immediately with no medical exam while other applicants can receive immediate coverage pending a medical exam.


Highly Recommended – Globe Life Insurance

$1* Buys $100,000 Globe Life Insurance

  • Coverage for Adults or Children

  • No Medical Exam. Just a Few Yes/No Health Questions

  • Free Information. No Phone Required. No Waiting

Buy Direct. Monthly Rates as low as $3.49 for Adults/$2.17 for Children.


Additional Resources for Term Life Insurance


Top 10 Life Insurance Companies - Review a list of the top life insurance companies and their financial ratings.

How Term Life Insurance Works - Learn more about term life insurance and how it works.

Term Life Insurance Calculator - Use this free life insurance needs calculator to help you learn how much life insurance you need to meet your needs.



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Advantages of Term Life Insurance


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