20 Year Term Life Insurance

With our 20 year term life insurance, you’ll get reliable coverage for 20 years. This plan is particularly ideal for people who want a longer form of term protection. If you have a young and growing family or you simply want straightforward and affordable coverage, this plan can work for you.
Get a free no-obligation quote now and discover your options.

We do Term Life Insurance differently

Up to $750,000 in affordable coverage amounts.
No doctor visits and no face-to-face meetings with agents.
Get your policy fast with no lengthy waiting times.

Key features and benefits of our plan

Easy eligibility plans
Available for people ages 18 to 60 with no doctor visits required to apply.
Ages 18-50: $50,000 to $750,000 in coverage.
Ages 51-60: $50,000 to $500,000 in coverage.
Reliable Coverage
Our term 20 coverage lasts up to age 95.
Fixed Premiums
Your premiums remain the same for the entirety of your initial term. There are no surprise premium increases, so you always know how much you are paying in premiums.
Renewable terms
Renew your term for continued coverage when you need it the most. If you find yourself still in need of coverage when your term ends, you can easily renew the plan and benefit from continued coverage.

The peace of mind term 20 life insurance can offer.

Cover educational costs and protect new opportunities
Your beneficiaries can choose to use your term 20 plan’s benefit to cover education costs. This coverage will allow them always to have access to higher-level education. The 20-year term life insurance plan benefit can cover expenses like tuition, textbooks, and on-campus living costs.
Mortgage coverage for the people who matter most
Using your plan’s benefit, your beneficiaries can cover the remaining cost of a mortgage. Leaving loved ones with a large debt like a mortgage can be financially straining. A term 20 plan can help ensure your family isn’t forced to cover this debt on their own.
Protecting a growing business and keeping it running
Your selected beneficiaries can choose to use your plan’s benefit to help keep a business running. If you have a family business, term 20 coverage can ensure it stays in the hands of your family if something happens to you.

What Is A 20 Year Term Life Policy

A 20-year term life insurance policy is a life insurance plan that protects the financial future of your family for a period of 20 years. In exchange for fixed monthly premiums paid by you every month to the insurance company, you have the serenity to know that if you would die unexpectedly, your bills and debts will be covered by the policy's death benefit.

Why You Should Choose A 20 Year Policy

All term life insurance policies are convenient for young families or young active people for whom easy financial planning should go with affordable life insurance rates and a comfortable coverage amount. With permanent life insurance, whole life insurance, for example, you would indeed pay much higher premiums.

Some people like the option of having protection no matter what happens. A 20-year term life insurance policy is a good option if you have several projects such as buying a house, creating a family, or even starting a business.

If you want protection that allows you to plan ahead, but you’re still not quite sure of the end date of your projects, you can still renew this life insurance coverage, according to your needs and other debts such as credit card you may have accumulated along the way.

How Does A 20 Year Life Insurance Work

By choosing a 20 year policy, you lock in a level premium rate and a death benefit for 20 years. Your rate is guaranteed fixed by the insurance company: it won’t increase for all the length of your life insurance plan. Like in all insurance policies, life insurance rates will be higher or lower according to the health status of the insured person. The more the health status is fragile, the higher the rates will be. If on the contrary, you are in excellent health, you may range in a rating class giving you low rates. This is why you should purchase life insurance when you are young and still in good shape.

Here are the key features of the 20-year term life insurance:

- You can choose and even change the beneficiary if anything comes along the way without any additional cost.

- The beneficiaries of your life insurance policy will directly receive the death benefit, completely free of taxes.

- When the life insurance policy lapses, you can renew it, without having to undergo a medical exam, whether you are in excellent health or not.

As long as the policyholder pays premiums, the term life insurance contract is on.

A lot of people are not aware of the massive difference between life insurance policies, and how the payment of the guaranteed death benefit works: in the case of a permanent coverage (like a whole life plan for example), that offers possibilities of policy loans, you obtain a cash value, the money you can use while you are alive for whatever you want. Life insurance rates, however, for this type of plan, are much higher. In the case of life insurance term, the guaranteed death benefit only happens if the covered person dies during a specified term. So a 20-year term length is a good way to cover a larger period of risks and to increase the chances of your family to receive compensation.

Reasons That Might Make A 20 Year Policy Right For You

How to decide the right policy length for your term life insurance? We have just explained to you that the longest the term length is, the more it is interesting for your relatives. And the 20-year term policy may be the right fit for you if you are in one of these situations:

If you have a spouse depending on your income

We do not always realize the financial impact of our absence on our loved ones. Your spouse may already have an income, but a mortgage payment or even the day-to-day expenses can be heavy for one person alone, as the cost of living is always increasing. If you would disappear, a life insurance plan will ensure your spouse a comfortable living. A twenty years term coverage gives you enough time to plan some savings in addition to your life insurance protection.

If you have young children or plan to have them

Have you ever searched for the cost of schools and universities? If you haven’t started a solid savings account dedicated to that, then a 20-year term life insurance will give you the peace of mind you need as they will receive compensation to cover these expenses. You can indeed name your children as the beneficiaries of your life insurance plan.

If you have large debts

You may already have a mortgage or some student loans you haven’t finished paying. Should anything happen to you, your loved ones may inherit your debts and struggle financially. A 20-year term life insurance is a good safety net to avoid financial difficulties added to the pain of your loss.

If you have a business

A business is a great source of fulfillment, but it can also be a source of stress as you are never quite sure of its sustainability. If anything happens to you, the cash benefit will help your collaborators and keep your business afloat, without any stress for your family or employees.

What Happens After 20 Years Are Up

When your 20-year term life insurance policy ends, you have two choices: you can let your life insurance plan lapse without purchasing another life policy, and in this case, your protection ends once the last payment of the premium is done. A term life insurance plan is different from whole life insurance as there is no cash value when the term expires.

As financial protection is always a good thing to have to ensure the future of your family, you will likely take the second option: you can renew the policy for another term coverage of your choice. As you will be older, life insurance premiums will increase, but the rate will be fixed for the length of your plan. To avoid a big increase if you have a tight budget, you may want to take our Term 100 to secure your rate. Term 100 is indeed a low-cost permanent life insurance protection, but you might want to have a closer look at all term lengths.

Every financially independent person should have a financial product such as a life insurance plan.

The purchase of life insurance is a decision of a lifetime and a licensed professional should help you to evaluate your life insurance needs and the right coverage amount. We recommend you talk to our advisors to determine the best term life insurance for your projects and purchase a life insurance policy that reflects your needs.
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