Is a 30-year term life insurance policy right for you?

Making the decision to purchase life insurance is an important step toward future financial security for you and your family. Though it may feel complicated to shop for life insurance, SelectQuote is here to help. By working together, we can help you find plan options to fit your needs, lifestyle and budget.

A man sitting on his couch reads why he should consider buying a 30-year term life insurance policy

Why term life insurance?

Life insurance policies are usually in one of two categories—term life insurance or permanent life insurance—but the most popular and affordable option is term life insurance. You buy it for only as long as you need, and you get to choose the length, or the term, of the policy. Common length of term options are usually 10, 15, 20, 25 or 30 years.

Besides the affordability factor, term life insurance is easy to customize to meet your needs. In addition to choosing the term length, you also can choose your level of coverage and often find flexible payment options. Almost everyone can find a plan that’s a good fit for them with term life insurance.

Life insurance policies come in all different shapes and sizes to fit everyone’s individual life insurance needs. When considering different term lengths, remember that a 30-year term life insurance policy is only one of many available options. We can help you through the process of deciding the right policy and term length for you and your family.

Why should I buy a 30-year term life insurance policy?

When considering whether a 30-year term is right for you, think about your family makeup, current responsibilities and future plans. Each different term length often fits a specific group of people based on shared characteristics. Newlyweds, families with very young children and new homeowners are among those who may consider a 30-year term life insurance policy.

People with older children or are closer to paying off debts are typically interested in a shorter term length, therefore many people who buy 30-year life insurance policies are in their 20s and their financial priorities over the next 30 years often include:

  • Supporting children from elementary school through college
  • Planning to pay off a mortgage and other debts, such as their own student loans
  • Focusing on investing for retirement

Your life insurance term length should be as long as your longest financial responsibility.

How much coverage do I need?

The amount of coverage you need depends on your unique situation. Consider your income, age, family makeup, financial responsibilities and future goals. Each of these factors can help determine your life insurance needs. Then, our term life insurance calculator can help you get a head start on determining the amount of coverage that might be right for you and your family.

Learn more about the average 30-year term life insurance rates.

Find the Right Coverage for You with SelectQuote

Buying a life insurance policy is important, but it doesn’t have to be difficult. SelectQuote can compare coverage and rates from some of the most trusted life insurance companies, so you can find the right coverage with the right carrier at the right price for you.

We do the shopping. You do the saving.