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Explore 20-year term life insurance policies with SelectQuote.

We can compare life insurance coverage and rates for you in just minutes, helping you decide what term length is right for you and your family.

A woman speaks on the phone with SelectQuote as she secures her 20-year term life insurance policy

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 often provide peace of mind in addition to replacement benefits to designated beneficiaries should you pass away during the policy period.

Term life insurance is a popular life insurance 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.

What is 20-year term life insurance?

A 20-year term life insurance policy provides financial protection for 20 years once your policy is in effect. Some factors to consider whether a 20-year term life insurance policy 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 at SelectQuote, we can find plan options that match your needs.

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 if anything were to happen to the other. 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, though, which is why we’re here to help you figure out what term length is best for your situation and needs.

Who would benefit from a 20-year term life insurance policy?

A 20-year term life insurance policy is typically a good fit for those with children or those who need additional financial security for the future. A family with very young children, however, may benefit more from a 30-year term while a family with older children may consider a 10 or 15-year policy.

In general, life insurance policies should last the length of your longest financial obligation and the variety of term lengths is one of the key benefits of term life insurance. Many people who buy 20-year life insurance policies are in their early to late 30s and their financial priorities often include:

Supporting children through college

Planning to pay off a mortgage

Paying off debts

Focusing on investing for retirement

As you look toward your future plans over the next 20 years, you may find that a 20-year term life insurance policy could be a good fit for you. With a 20-year term life insurance policy, the money will be there if you need it to help handle life’s important expenses, and you can rest assured your plans and future are secure, even with the loss of an income.

20-Year Term Life Insurance Cost

20-year term life insurance rates are based on a variety of factors making up your “risk profile,” oftentimes including:

  • Gender
  • Age
  • General health
  • Unhealthy habits, such as smoking and drinking

Your geographic location, family health history and even driving violations can also impact your life insurance premiums and some life insurance calculators might even ask about your hobbies to determine whether you participate in any high-risk sports or other activities.

Other factors that can impact the cost of your life insurance premiums include the type of policy, policy length and benefit amount you choose. A 10-year term life insurance policy will often cost less than a 20-year term life insurance policy for the same benefit amount, while a 30-year policy could cost more.

At SelectQuote, we can help you take all of the above into consideration while comparing quotes from multiple carriers to find an affordable term life insurance policy for you and your family.

Age / Sex$250,000 Coverage Amount$500,000 Coverage Amount$1M Coverage Amount
25 Years Old Female$11.39$16.40$23.97
25 Years Old Male$12.83$19.29$31.44
35 Years Old Female$12.45$18.06$30.53
35 Years Old Male$13.76$21.64$34.84
45 Years Old Female$22.10$37.82$67.99
45 Years Old Male$27.32$47.40$87.89
55 Years Old Female$48.87$84.99$158.95
55 Years Old Male$62.47$117.29$221.63

Table rates are based on a 20-year term policy for men and women in excellent health from one or more of the trusted companies we represent. Rates were pulled on 5/2021. Your price could vary depending on your health, issuing company and other factors. Not available in all states.

How to Buy a 20-Year Term Life Insurance Policy

Once you’ve decided a 20-year term life insurance policy is the right amount of coverage for you, it’s time to buy. At SelectQuote, we not only make the shopping process easy, but the application and purchasing part, too. In simple terms, buying a 20-year term life insurance policy through SelectQuote looks like:

  1. Get a free term life insurance quote from SelectQuote
  2. Choose the amount of term life insurance coverage that’s right for you
  3. Apply and buy a 20-year term life insurance policy with one of the trusted insurance carriers we work with

Ready to get started? Let SelectQuote shop 20-year term life insurance policies for you.

When it comes to shopping for a 20-year term life insurance policy, it’s important to compare the coverage and rates available to you—it’s one way to be sure you’re getting the right plan for the right price. At SelectQuote, we work with some of the most trusted life insurance companies in the industry and can easily shop or re-shop term life insurance policies to make sure your policy meets your needs.

Compare Life Insurance Rates Now

Still unsure if a 20-year term life insurance policy is right for you? Check out our other life insurance options.

The easiest way to figure out what term length is right for you is to work with SelectQuote. Whether you’re interested in a 20-year term policy or need a longer or shorter term length, we can shop some of the most trusted insurance companies on your behalf, comparing coverage and rate options in just minutes.

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15-Year Term Life

A husband and wife laugh together after securing their 25-year term life insurance policy

25-Year Term Life

A husband and wife sit on their porch with their children on their laps

30-Year Term Life