Term life insurance covers you for a fixed period — typically 10, 20, or 30 years. If you die during the term, the policy pays the face amount to your beneficiary. If you don't, the policy ends and you keep your money. It's the cheapest dollar of life insurance you can buy, and the right answer for most working parents and homeowners.
For a healthy non-smoker, here are illustrative monthly ranges in 2026 for $1M of 20-year term:
These are illustrative ranges, not quotes. Smoking dramatically increases premiums. Medical history, BMI, and family history matter.
Want a real term quote? We shop carriers and come back with numbers — not a sales pitch.
Free term life quote →The honest answer: long enough to cover the period when someone depends on your income. For new parents, 20- or 30-year term gets the kids through college. For someone buying a 30-year mortgage, matching the term to the mortgage term often makes sense. For older folks with a 5-year financial obligation, 10-year term is often the right fit.
This is a common refrain. Mostly it's right. The premium difference between term and whole life is large; if you'd actually invest that difference into a retirement account or index fund, term is the better deal for most people. We don't push whole life unless there's a specific reason.
For families with longer-term obligations (mortgage) and shorter-term obligations (kids until they finish college), laddering can save premium. Buy a $500K 30-year policy and a $500K 20-year policy, instead of $1M of 30-year. The 20-year drops off when it's no longer needed; the 30-year continues. Total premium is lower than $1M of 30-year alone.
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