Term Length

The Term Length refers to the length of time that a life insurance policy has a guaranteed in force price.   Term Life Insurance, in comparison to Permanent Life Insurance, such as Whole life, has a given number of years for which the policy premium is guaranteed.

“Once that period or “term” is up, it is up to the policy owner to decide whether to renew or to let the coverage end.”  According to Investopedia.

Typical term life length options include:

  • A ten year term.
  • A fifteen year term.
  • A twenty year term.
  • A twenty five year term.
  • A thirty year term.

Those term length options: 10, 15, 20, 25, and 30 are the most popular and constitute the build of term life purchases.

Decisions about the appropriate term length should be made in consideration of the desired amount of time for that life insurance to be in force.  Although technically possible that a new life insurance policy or a continuation of the term policy is possible, it generally should not be planned on.  In other words, consumers should choose the term length as if it is the last insurance policy they will buy.

Best Life Insurance For Young Adults

Written by Scott W Johnson

The best life insurance for young adults is the policy is for those that actually need the insurance and is provided at the lowest cost, with the highest rating, with the most amount of life insurance coverage (for the dollar.) How much and what type of life insurance that you need greatly depends on your life stage. Are you a new parent, graduate student, still living at home, college student, first job? All of these life stages likely have differing quantities and dollars of life insurance needed.

Convertible Term Life Insurance

Written by Scott W Johnson

Convertible Term Life Insurance is a form of life insurance that allows you to convert it at a later date usually with no further underwriting. There are all sorts of other considerations and terms that must be met. Why convertibles are such a good idea depend on what type of term (soon to be whole life) buyer you are. We find that most clients that are good fits for these products are one of two individuals – Read about these types of people and consider Convertible Terms.

30 Year Term Life Insurance

Written by Scott W Johnson

The 30 year term life insurance policy is the longest of the standard term lengths offered by some life insurers. Most often compared with a 20 year term policy – the debate on which is best for you and your family is up to you. Consider the 30 year policy if you have a need for a longer coverage period or just want the security that it offers.

Three Secrets of Life Insurance

Written by Scott W Johnson

​ Life Insurance is not really too important – WRONG ​ Avoid getting wrecked buying life insurance by learning these three key secrets. The world of life insurance is needlessly complicated.   But in a few quick minutes you can master the world of life insurance buying – read on and learn. The First Secret of.. More

When considering and analyzing Term Life Insurance Policy Length – one needs to consider the universe of possible options combined with your individual needs.  The needs for  you and your family.  The simplest rule of thumb is often to consider how long it will take your youngest child to reach and possibly graduate college.   So.. More