Affordable Life Insurance Protection for Your Family
What is 20 Year Term Life Insurance?
A 20 Year Term Insurance Policy is a type of life insurance coverage that provides protection for a specified period of time, in this instance it would be 20 years.
It’s an easy way to provide for your family if you pass away prematurely. In most cases you can qualify for coverage without a medical exam.
After 20 years you can choose to renew your term insurance policy at the premium for your age at that time.
Your option to renew your policy is usually guaranteed without taking a physical until age 65. Or, you may be able to convert your policy to a whole life insurance policy until age 65.
This type of policy can help you provide protection for your family for future long-term expenses. Examples may include your home mortgage and future college tuition for your children.
You may even qualify to purchase 10, 15, 20 or 30 year term life insurance with no medical exam required, just some health questions for you to answer.
Term Insurance is pure protection. There’s no cash value that builds within the policy. So you get the maximum protection for the lowest cost.
With Level Term Life Insurance your rate is guaranteed to remain the same for the entire 20 year period. Your rate won’t increase and your coverage will remain the same for the full twenty years.
Top Pick – JRC Insurance Group
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Highly Recommended – Haven Life
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.
Applicants age 60-64 are eligible to apply for up to $1 million in coverage; subject to underwriting approval.
Some qualified applicants (U.S. citizens up to the age of 59) will be able to finalize coverage without the need for a medical exam. The majority of applicants are still required to take a medical exam.
Keep in mind: Issuance of the policy or payment of benefits may depend upon the answers given in the application and the truthfulness thereof.