Term Life Insurance
Pure death benefit protection. If you die during the term, your family gets paid. If you don't, the policy expires. Simple.
How It Works
- ✓ Choose a coverage amount ($250k, $500k, $1M+)
- ✓ Choose a term length (10, 20, or 30 years)
- ✓ Pay a fixed monthly premium
- ✓ If you die during the term, beneficiaries receive the full payout tax-free
- ✓ If the term expires, the policy ends with no payout or cash value
Sample Monthly Premiums
Healthy non-smoker male. $500,000 coverage. Estimates only.
| Age | 10-Year Term | 20-Year Term | 30-Year Term |
|---|---|---|---|
| 25 | $17 | $22 | $30 |
| 30 | $18 | $25 | $35 |
| 35 | $22 | $34 | $52 |
| 40 | $32 | $55 | $92 |
| 45 | $52 | $98 | $175 |
| 50 | $88 | $175 | $340 |
Who Needs Term Life
You need life insurance if someone financially depends on you. That means: spouse, kids, a parent you support, or a business partner.
The right coverage amount: 10-12x your annual income, plus any debts you want covered. A 30-year term covers you until retirement. A 20-year term covers you until the kids are out of college.
The best time to buy: as young as possible. Rates only go up with age. A healthy 25-year-old can lock in $1M of 30-year coverage for around $50/month.