PolicySolutionsSerious coverage for the years your family needs it most — often for far less than people expect.
Term life covers you for a set number of years — 10, 15, 20, or 30. If you die during those years, your family receives the death benefit, generally income-tax-free. Your premium never changes for the whole term. There is no cash value and no lifetime guarantee: when the term ends, the coverage ends. It is protection for the years your income and your debts matter most.
You will never be younger — or usually cheaper to insure — than you are today. A quote takes about five minutes. And in most states, a free-look period after the policy is delivered lets you change your mind.
- No-exam options for healthy applicants — approval still depends on your answers to the health questions on the application
- No fee for our help — our commission is built into the carrier's premium, not added to it
- A real quote in about 5 minutes
In short: Term life covers you for a set number of years — commonly 10, 15, 20, or 30. If you die during that term, it pays a death benefit that is generally income-tax-free to your beneficiaries under IRC §101(a). The premium stays level the whole term, and it's usually the lowest-cost way to buy a large amount of coverage. It builds no cash value, and it ends when the term does — which is why it fits the years you're carrying a mortgage, raising kids, or replacing income.
Pick the term by the need it protects.
The right length isn't a guess. It's how long the money is actually needed. Find yours:
A 30-year mortgage points to a 30-year term; 18 years left points to a 20. The payoff and the coverage end together.
A 20-year term on a newborn carries them past college; match the term to the years until your youngest is on their own.
Cover the paychecks your family relies on until you'd retire and the mortgage is gone — often a 20- or 30-year term.
An SBA or equipment loan can be covered so a co-signer or partner isn't left holding the debt if something happens.
Still not sure how long you need? Read how long your term should be, or start a free quote and a licensed agent will size it with you in a few minutes.
How term life actually works
You pick a length. The premium stays level. The coverage ends when the term does. Here's the detail behind each part.
What you're buying
A promise: if you die during the term you picked, your beneficiary receives the death benefit — generally income-tax-free. Your premium is level for the entire term, so it doesn't rise as you age inside that term. (The longer you wait to buy, though, the higher the starting rate — see the cost of waiting.)
What happens when the term ends
- Coverage simply ends — no payout, no refund, unless you added a return-of-premium rider
- Many policies are convertible to permanent coverage with no new underwriting
- You can also apply for a new term policy, priced at your age and health then
Underwriting
Larger policies typically need a paramedical exam (a quick blood/urine sample and vitals) plus a health questionnaire. Many carriers offer no-exam term up to certain limits for healthy applicants — the right carrier match is where an independent agent helps.
How much coverage makes sense
A practical starting point is the DIME method: your debts, plus the income your family would need replaced, plus the mortgage, plus future education costs — minus savings already set aside. There's no single right number — our coverage guide walks you through it.
The four kinds of term worth knowing.
"Term life" isn't one product. The differences change both the price and what you walk away with.
General product descriptions; features, availability, and pricing vary by carrier and state. A licensed agent confirms what each carrier actually offers for your situation.
The conversion privilege can be worth more than the coverage.
Most good term policies let you convert to permanent insurance without a new medical exam, usually before a set age. Conversion ignores your health at that time. So it quietly locks in your ability to keep life insurance for life — even if you later develop a condition that would make you hard to insure. On many policies the privilege is built into the contract rather than sold as an add-on, and we look for term policies that offer it. What conversion does not do is hold your price: the permanent policy is priced at your age when you convert, so the premium will be materially higher than the term you are leaving. Conversion protects your insurability, not your rate. Already have a term policy that's ending? See your options when term life expires →
See term options with conversion →Term life is the right tool for some jobs, not all.
Here's the honest breakdown of when it fits and when something else fits better.
Usually a good fit
- Replacing income for a specific window — until kids are grown or a mortgage is paid off
- You want the most coverage for the lowest monthly cost
- You have a clear end date for when the need goes away
- You're young and healthy — locking in a low rate now, with conversion for later
Worth considering alternatives
- You want coverage that never expires — see whole life or IUL
- You want to build cash value you can borrow against later
- You're mainly covering funeral and final expenses on a smaller budget — final expense may fit better (see the two compared)
Term life — frequently asked questions
What happens if I outlive my term?
The policy simply ends with no payout — term life is pure protection, not an investment. If you still want coverage afterward, most policies let you convert to permanent coverage without new underwriting, or you can apply for a new term policy at your then-current age and health. If you bought a return-of-premium rider, it refunds the base premiums at the end of the term — but only if you kept the policy in force the whole way. Lapse or cancel early and carriers generally return little or nothing, and rider charges and extra premiums are usually excluded from what comes back.
Do I need a medical exam?
It depends on the carrier, your age, and how much coverage you're requesting. Many carriers offer simplified or no-exam underwriting up to a certain coverage amount for healthy applicants; larger amounts typically require a paramedical exam. A licensed agent can point you to the no-exam carriers you'd likely qualify with.
What is the conversion privilege, and why does it matter?
A conversion privilege lets you switch a term policy to permanent coverage without a new medical exam, usually before a set age or policy year. It matters most if your health changes: because conversion ignores your current health, it locks in your ability to keep life insurance for life even if you later become hard to insure. Not every term policy includes it, and the terms vary — it's worth confirming before you buy.
What's the difference between level, decreasing, and return-of-premium term?
Level term keeps both the premium and the death benefit the same for the whole term — the most common choice. Decreasing term keeps the premium level but shrinks the death benefit over time, often used to follow a mortgage balance. Return-of-premium term costs more up front and refunds the base premiums you paid if you outlive the term — but only if you kept the policy in force the whole way. Cancel early and most of the refund is forfeited. A licensed agent can compare which structure fits your goal and budget.
What length of term should I choose?
Match it to how long the financial need actually lasts — a 20-year mortgage might call for a 20-year term, while covering kids until they're financially independent might mean matching the term to their current age. Some people "ladder" two or three policies of different lengths so coverage steps down as needs fall away, keeping the total premium lower.
Term life costs far less than people think.
Cost is the number-one reason people who say they need coverage go without it — and that guess is usually wildly off.
See what term life actually costs for your situation.
Your rate depends on your age, your health, and how much coverage you want. A licensed agent walks you through real numbers from multiple carriers. No obligation, no pressure, and no cost to you.