20-Year Term Life Insurance
When a primary provider of a family passes away, it can create a financial struggle for those left behind. A 20-year term life insurance policy can provide replacement benefits to designated beneficiaries should you pass away during the policy period.
Term life insurance is often a popular option due to its affordability compared to permanent life insurance and is available in multiple lengths (typically ranging from 10 to 30 years). At SelectQuote, we can help you decide which term length is right for you.
Is a 20-year term life insurance policy right for you?
Some factors to consider whether a 20-year term is right for you include cost, income, age, family makeup, current financial responsibilities and future plans. It can be a lot to take on alone, but a SelectQuote life insurance agent can find plan options that match your needs and price to the best term length for you.
For example, a 20-year term length could be a great solution for a young couple in their 30s with two elementary-aged children. They’re likely looking for peace-of-mind in the case that one parent will be left behind to financially support both themselves and the children.
By the time their policy is up, their children will likely be on their own, and their needs and future plans would likely look much different than 20 years prior.
This is just one example of how term life insurance can provide a sense of relief and protection to your family. Everyone’s circumstances and concerns are different, which is why it makes sense to let us help you figure out what term length is best for your situation and needs.
Steps Following the Expiration of Your Policy
It’s just as important to plan ahead as it is to plan for the now. You hope your policy never has to be used, but there’s much comfort in knowing it’s there in case it does. Instead of right before or after your policy expires, it’s best to let us help you avoid limitations and expensive options when shopping for new coverage. You’ll be able to share how your life has changed since your previous policy was put in place and learn what your best options are from there.
Whether it’s switching the length of your coverage or looking further into permanent life insurance (also known as whole life insurance), we can help you find a new policy that will work best for both your family and your budget.
Comparing 20-Year Life Insurance Rates
Taking the time to compare term life insurance rates is crucial as similar plans can vary greatly from one carrier to another. An online quoting engine can seem quick and convenient, but it can’t always take into consideration additional information such as pre-existing conditions, hobbies, work environment, etc. At SelectQuote, we’ll take the time to get to know your situation and needs can provide unbiased price comparisons in just minutes.
Explore the Cost of Term Life Insurance
Many people don’t know how much life insurance they actually need or what it will cost them. Use the SelectQuote Calculator to compare different term length prices before talking with a SelectQuote agent.