How a term policy works
You choose a coverage amount and a term length. As long as premiums are paid, your beneficiaries receive the death benefit if you pass away during the term.
Most term policies are 'level term,' meaning the premium and the death benefit stay the same for the whole term. Term life builds no cash value — it's pure protection, which is why it costs less than permanent insurance.
Common term lengths
Terms are commonly offered in 10, 15, 20, and 30 years. A good rule of thumb is to match the term to your biggest obligations — for example, until your mortgage is paid off or your youngest child is independent.
Convertibility and renewal
Many term policies are convertible, letting you switch to permanent coverage later without a new medical exam, within certain limits. When a term ends you may be able to renew, but usually at a higher price because you're older.
Is term life right for you?
Term life is often the best fit for income replacement, mortgage protection, and other needs with a clear time horizon. A licensed agent can help you confirm the right length and amount.
Ready to see what may fit?
Start a quick quote, or talk with a licensed agent — no obligation, and approval is never guaranteed.