30-Year Term Life Insurance
When a main wage earner of a household passes away, it can create a financial burden for the family members left behind. A 30-year term life insurance policy can give you peace of mind, as replacement income can go to designated beneficiaries should you—the policy holder—pass away during the selected period.
Term life insurance is a common life insurance option as it’s often an inexpensive way to protect your loved ones. It’s available in many lengths, typically ranging up to 30 years, and at SelectQuote, we can help you decide which term length is right for you.
What is 30-year term life insurance?
A 30-year term life insurance policy provides financial protection for 30 years after it’s in effect. When considering whether a 30-year term is right for you, there are a variety of factors to keep in mind—such as cost, income, age, family size, current and future financial responsibilities. It can be a complex search to take on alone, but at SelectQuote, we can find available plan options that match your needs and budget.
For example, a 30-year term life policy might be a good fit if you and your spouse just bought your first home and base your mortgage on paying with two incomes. If something unexpected happens to one income, a 30-year term life insurance policy could provide replacement income to ensure the mortgage continues to get paid and the other can comfortably remain in the home. This would be especially important security if children were also left behind.
There are numerous scenarios where purchasing a 30-year term length policy makes financial sense, from ensuring your family can pay off any large debts to making sure future plans don’t have to be extremely altered if you’re the main provider.
Let us help you figure out what term length is best for your situation and needs.
Who would benefit from a 30-year term life insurance policy?
Newlyweds, families with very young children and new homeowners are among those who may consider a 30-year term life insurance policy. When considering whether a 30-year term life insurance policy is right for you, think about your family makeup, and current and future financial responsibilities. The variety of term lengths is one of the main benefits of term life insurance.
People with older children or those who are closer to paying off debts are typically interested in a shorter term length. Many people who buy 30-year term 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.
30-Year Term Life Insurance Cost
Term life insurance rates are based on factors that make up your “risk profile” which includes:
- General health
- Certain habits, such as smoking and drinking.
Some life insurance calculators may also consider additional factors such as geographic location, family health history, driving violations or even your hobbies. Additionally, the type of policy, policy length and the benefit amount you choose will have an impact on the cost of your life insurance policy.
A healthy 35-year old female could potentially secure a 30-year term policy with $500,000 in coverage for as low as $1/day.* A 30-year term life insurance policy will likely cost more than a 20 or 25-year term life insurance policy of the same benefit amount. However, with SelectQuote, it’s often easy to find an affordable term life insurance policy.
|Age / Sex||$250,000 Coverage Amount||$500,000 Coverage Amount||$1M Coverage Amount|
|25-Year Old Female||$14.65||$22.87||$38.11|
|25-Year Old Male||$17.47||$28.04||$46.74|
|35-Year Old Female||$18.27||$29.20||$51.18|
|35-Year Old Male||$21.09||$34.75||$63.92|
|45-Year Old Female||$33.26||$60.11||$114.05|
|45-Year Old Male||$42.85||$78.61||$148.73|
|55-Year Old Female||$91.51||$175.99||$329.81|
|55-Year Old Male||$119.31||$231.97||$456.48|
Monthly rates are based on a 30-year term policy for men and women in excellent health from one or more of the trusted companies we represent. Rates were pulled 2/2022. Your price could vary depending on your health, issuing company and other factors. Not available in all states.
How to Buy a 30-Year Term Life Insurance Policy
Once you’ve decided a 30-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 30-year term life insurance policy through SelectQuote looks like:
- Get a free term life insurance quote from SelectQuote
- Choose the amount of term life insurance coverage that’s right for you
- Apply and buy a 30-year term life insurance policy with one of the trusted insurance carriers we work with
Ready to get started? Let SelectQuote shop 30-year term life insurance policies for you.Buying a 30-year term life insurance policy can be one of the biggest and most important decisions you’ll make to protect your family’s financial future. In just minutes, we can compare coverage and rates from some of the most trusted insurance carriers in the nation. At SelectQuote, our process has helped millions of families find the coverage they need at a rate they can afford and we can help you, too.
Still unsure if a 30-year term life insurance policy is right for you? Check out our other life insurance options.
Unsure if a 30-year term length is right for you? Fortunately, there are a lot of options. There are numerous scenarios where purchasing a 30-year term length policy makes good financial sense, but a 15, 20, or 25-year term life insurance policy might work better for you and your family. Let us help you figure out what term length is right for your situation and needs.