Term Life Insurance
Coverage for a set period, such as 10, 20, or 30 years, often used to protect income while children are young or debts are being paid.
What It Is
Term life insurance provides a death benefit if you pass away during a set term, such as 10, 20, or 30 years. If the term ends while you're living, coverage typically ends unless the policy offers renewal or conversion.
Who It's For
Working adults and families who want to replace income, cover a mortgage or debts, or protect children during their most expensive years.
Key Features
- Coverage lasts for a chosen term.
- Often provides larger coverage amounts for the cost than permanent coverage.
- Some policies can be renewed or converted to permanent coverage; terms vary.
- No-medical-exam options are available for some applicants; eligibility varies.
Frequently Asked Questions
What Happens When the Term Ends?
Coverage typically ends. Some policies allow renewal or conversion to permanent coverage, subject to policy terms.
How Long a Term Should I Choose?
Many people match the term to how long others depend on their income, such as until the mortgage is paid or kids are grown.
Does Term Life Build Cash Value?
Generally no. Term life is designed to provide protection for a set period.
General information only, not a contract or offer. Terms, benefits, and availability vary by carrier, plan, and state.
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