Best Rates for 10-20-30 Year Term Life Insurance

What is 10-20-30 Year Term Life Insurance?

Term Life is a type of life insurance that provides coverage for a set period of time. The “term” represents how long the policy remains in force. There are various term lengths offered: 1 year, 5 year, 10 year, 15 year, 20 year, 25 year and 30 year. Probably the most popular term duration is either the 20 year term or the 30 year term.

One way to understand term is to understand what term life insurance is not. Term life is not permanent life insurance. Term life does not build cash value. Essentially, it offers protection if you die prematurely. Rates are determined by each individual carrier. Premium rates have to do with actuary tables and are determined by actuaries that have taken several exams over a period of 6-10 years. Although not rocket science, this type of work does require a serious amount of experience.

Term life does offer living benefits in addition to a payout at death. One living benefit included on most term life includes an accelerated death benefit. If the insured is diagnosed as terminally ill, a portion of the death benefit will be available for use by the insured. There are additional life insurance riders available, such as a disability rider, waiver of premium and conversion option.

A conversion option is typically included and allows the owner of the term policy to covert all or a portion of the term into permanent coverage, such as universal life insurance, without proof of insurability—that means no health questions or medical exam. The conversion option on term life is a great way to protect your insurability without having to buy expensive permanent coverage. If you are diagnosed down the road, you would simply convert your existing 10, 20 or 30 year term policy to permanent cash value life insurance.


Term life insurance rates

10 Year Term Life Insurance Rates

There is no one size fits all company that offers the best 10 year level term life insurance. However, we can help narrow down the right company for you that will offer cheap life insurance with the least amount of hassles.

We do this by focusing on the unique niches of the various life insurance companies we represent and aligning you with the one that best fits your specific need, health and lifestyle.

Sample 10 Year Term Life Insurance Rates

Ages $250,000 $500,000 $1,000,000
20 $10 $13 $19
30 $10 $13 $19
40 $12 $17 $23
50 $24 $42 $71
60 $59 $111 $210
70 $179 $329 $599
80 $772 $1,506 $2,903

Monthly rates are for a healthy male. Sample quote is from Clearlink partner and is for illustration purposes only. Actual quotes may vary. Data as of 11/25/2019.

20 Year Term Life Insurance Rates

There is no exclusive company that offers the best 20 year level term life insurance. However, with just a brief 5 minute conversation, we can help pinpoint the right company for you. We do this by honing in on the unique niches of the different life insurance companies we represent and placing you with the one that best suits your specific need, health and lifestyle.

Sample 20 Year Term Life Insurance Rates

Ages $250,000 $500,000 $1,000,000
20 $13 $19 $31
30 $13 $20 $32
40 $18 $29 $51
50 $40 $72 $136
60 $107 $199 $391

Monthly rates are for a healthy male. Sample quote is from Clearlink partner and is for illustration purposes only. Actual quotes may vary. Data as of 11/25/2019.

30 Year Term Life Insurance Rates

No single company offers the best 30 year level term life insurance. However, we can help bring to light the right company for you. We do this by zeroing in in on the specific niches of the various companies we represent and placing you with the carrier that caters to your specific need, health and lifestyle.

Sample 30 Year Term Life Insurance Rates

Ages $250,000 $500,000 $1,000,000
20 $18 $29 $50
30 $19 $31 $55
40 $29 $51 $95
50 $69 $128 $249

Monthly rates are for a healthy male. Sample quote is from Clearlink partner and is for illustration purposes only. Actual quotes may vary. Data as of 11/25/2019.


Bottom line: The younger and healthier you are the better the rate

When you are younger and in excellent health your insurance rates are the most affordable for any amount of coverage you need. As you age and/or your health declines you can expect to see higher life insurance rates.

There are several companies out there that offer the best term life insurance rates for the young and healthy, however, depending on your specific circumstances it is worth shopping around to find the best and most affordable option to meet your needs.

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