Affordable Life Insurance Protection for Your Family

Term Life Insurance Years

Providing the right life insurance coverage to protect the financial future of your loved ones is an important decision not to be made lightly.

 

Understanding that term insurance is right for your personal needs will depend on how long you need your protection to last, in order to accomplish the goals you have for your life insurance plan.

 

How Many Years Does Term Life Insurance Last?

 

Term life insurance is temporary protection lasting for a period of up to thirty years.

 

However, you do have several options of duration to choose from with term policies.

 

Usually, term life offers Policy Terms of 10, 15, 20, 25 or 30 years, depending on your current age and health.



Limitations to Years of Term Insurance Available

 

Although term coverage may be available for a period of up to 30 years, the maximum duration available will be limited based on your age and health.

 

For example, people ages 18 to 45 may be able to get a 30 year term policy, while people over 65 may be limited to 10 or 15 years maximum duration of protection.

 

Choosing The Right Number of Years for Term Life Coverage

 

If you are considering the purchase of a term life policy to provide life insurance protection for your loved ones, one of the first things to consider is how long you need your coverage to last in order to meet your needs.

 

Things to Consider:

 

  • What do you want your life insurance to accomplish?
  • How many years do you need coverage in order to accomplish your goals?
  • Select the appropriate Policy Term

 

Examples of Policy Term Needs:

 

30 Year Needs

 

If you are 40 years old and just bought a new home with a 30 year mortgage loan, you may want to buy a 30 year term life plan to provide the protection your family needs to pay off the outstanding balance on your home mortgage loan, in case you die before the mortgage period ends.

 

20 Year Needs

 

If you have a young child who is 3 years old and you want to make sure your child has the money needed to go to college, you may want to purchase a 20 year term life policy so that in case you die before your child graduates college, he or she will have the funds needed from your insurance policy.

 

In addition, many people buy 5, 10, 15 or 20 year term life policies to help provide financial protection for personal loans, auto loans, mortgage loans, or college funding.

 

Other common reasons to purchase term insurance coverage usually include: Providing funds to replace the main breadwinner’s income, providing for spouse’s retirement, providing for estate taxes, leaving money to a charity, and maintaining your family’s lifestyle.

 

Term Life Insurance Quotes

 

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Term Life Insurance Years


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