Getting married, planning a family, and working towards a bright future is a dream of most Americans. Everyone dreams that good things will come their way but what if things go in the opposite direction. You cannot trust life… you never know when it will throw a curveball at you. Therefore it\u2019s important to prepare yourself and your family for the unexpected.<\/p>\n\n\n\n
Sure planning a honeymoon and painting a nursery for your unborn child is great but the real love lies in wanting the best for each other, even when you are not around anymore. For many people that means figuring out which life insurance policy can provide the right financial protection your family needs.<\/p>\n\n\n\n
Life insurance is a gift<\/a> that keeps on giving. With every passing day in which you are holding onto a life insurance policy, you are providing your family with some transcendental value.<\/p>\n\n\n\n Purchasing life insurance is a promise. It is a timeless commitment in which you are saying \u201cI\u2019m willing to give up a little bit today to make sure you are always okay.\u201d<\/em><\/p>\n\n\n\n A life insurance payout<\/a> provides a safety net that helps your surviving family members in taking care of financial responsibilities that may arise after your death. The feeling that your loved ones are financially protected in case if something happens to you is comforting and cannot be replaced with any other feeling.<\/p>\n\n\n\n Your financial situation and family needs decide the amount of insurance you need and for how long<\/a>. Ask yourself:<\/p>\n\n\n\n How many people are currently financially dependent on your income?<\/em> Once you can begin to have an honest conversation with yourself, finding the life insurance policy that is right for you becomes quite a bit easier.<\/p>\n\n\n\n Term life insurance<\/a> makes more sense when you are looking for an affordable and simplest form of coverage. A term life insurance policy can provide you coverage for a set period of time typically 10, 15, 20, 25 or 30 years.<\/p>\n\n\n\n Your monthly premiums<\/a> will depend on the amount of coverage and the term length that you decide to choose. We found that most people choose a term length of 20 years for the coverage amount of $500,000 for their term life insurance coverage.<\/p>\n\n\n\n But is the 20-year term length right for you? Let\u2019s find out:<\/p>\n\n\n\n A college education is expensive, and many parents look forward to supporting their children to pay for their college. If your youngest is a toddler, you need a 20-year term life insurance coverage to cover his\/her college expense needs.<\/p>\n\n\n\n Buying a 20-year term life insurance that will cover your remaining amount and term of the mortgage can help your partner pay off the remaining mortgage with ease.<\/p>\n\n\n\n There are some situations where needing a life insurance policy is of less importance, such as:<\/p>\n\n\n\n However, carrying policy into your retirement can be of substantial advantage as life may take unexpected turns. What if you or your spouse gets sick and you spend a big part of your savings in paying medical bills or that your spouse does not have enough retirement income of their own to live a comfortable life if something happens to you.<\/p>\n\n\n\n As you age, life brings more complexity, and getting a life insurance policy in your 50\u2019s is not the same as getting it in your 20\u2019s and 30\u2019s; therefore, if you have any uncertainties and doubts, don’t take a chance. Skip that one $1 latte that you buy every day and instead start paying for a life insurance policy with that money, I am sure you won’t regret it.<\/p>\n\n\n\n Budgeting for an entire household is not easy. Sometimes a paycheck is not enough to spend on other luxuries of life. Balancing long-term protection against immediate needs can be challenging enough for families living on a tight budget.<\/p>\n\n\n\n Buying a 10 or 20-year term life insurance is more cost-effective than getting a 30-year term life insurance policy. We understand that a 30-year term length offers extended protection but the annual expenses are comparatively higher than that of a 20-year term length.<\/p>\n\n\n\n A healthy 30-year old man could buy a 20 year, $500,000 term policy starting at $20.21 per month. A 30-year policy with the same details begins at $32.68.<\/em><\/p><\/blockquote>\n\n\n\n Life Insurance is not as expensive as you think. Once you know your needs and affordability, deciding on a policy becomes a lot easier. Let’s have a look at some sample 20-year term life insurance rates so that you can understand that life insurance is something that is affordable.<\/p>\n\n\n\n *Please note that these 20-year term life insurance rates are for the Preferred Plus rating class and are subject to change.<\/p>\n\n\n\nHow Much Life Insurance Do I Need?<\/h2>\n\n\n\n
What are your long-term financial goals? How much life insurance is \u201cenough\u201d?<\/em>
What are the opportunity costs of purchasing a life insurance policy?<\/em><\/p>\n\n\n\nPeople with Young Kids:<\/h3>\n\n\n\n
Less than 20 years Remaining on your Mortgage:<\/h3>\n\n\n\n
Retiring within 15 to 20 years:<\/h3>\n\n\n\n
Families on a Tight Budget:<\/h3>\n\n\n\n
20 Year Term Life Insurance Rates<\/h2>\n\n\n\n
Sample 20 Year Term Life Insurance Rates For Males<\/h3>\n\n\n\n
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\n \nAge<\/th>\n $250,000<\/th>\n $500,000<\/th>\n $1,000,000<\/th>\n $2,000,000<\/th>\n<\/tr>\n<\/thead>\n \n 20<\/td>\n $12.90<\/td>\n $19.78<\/td>\n $33.11<\/td>\n $62.77<\/td>\n<\/tr>\n \n 30<\/td>\n $13.11<\/td>\n $20.21<\/td>\n $33.97<\/td>\n $62.77<\/td>\n<\/tr>\n \n 40<\/td>\n $17.85<\/td>\n $28.32<\/td>\n $49.17<\/td>\n $91.77<\/td>\n<\/tr>\n \n 50<\/td>\n $41.43<\/td>\n $69.92<\/td>\n $129.57<\/td>\n $252.57<\/td>\n<\/tr>\n \n 60<\/td>\n $110.03<\/td>\n $192.07<\/td>\n $371.87<\/td>\n $737.17<\/td>\n<\/tr>\n \n 70<\/td>\n $411.85<\/td>\n $805.30<\/td>\n $1546.62<\/td>\n $3088.09<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n\n\n Sample 20 Year Term Life Insurance Rates For Females<\/h3>\n\n\n\n
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\n \nAge<\/th>\n $250,000<\/th>\n $500,000<\/th>\n $1,000,000<\/th>\n $2,000,000<\/th>\n<\/tr>\n<\/thead>\n \n 20<\/td>\n $11.38<\/td>\n $13.92<\/td>\n $21.75<\/td>\n $37.41<\/td>\n<\/tr>\n \n 30<\/td>\n $11.80<\/td>\n $17.21<\/td>\n $28.72<\/td>\n $52.25<\/td>\n<\/tr>\n \n 40<\/td>\n $15.27<\/td>\n $24.22<\/td>\n $41.07<\/td>\n $75.77<\/td>\n<\/tr>\n \n 50<\/td>\n $31.17<\/td>\n $55.47<\/td>\n $101.91<\/td>\n $199.09<\/td>\n<\/tr>\n \n 60<\/td>\n $77.62<\/td>\n $139.32<\/td>\n $267.03<\/td>\n $529.33<\/td>\n<\/tr>\n \n 70<\/td>\n $269.94<\/td>\n $531.87<\/td>\n $1048.25<\/td>\n $2088.63<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n\n\n
Get a Free Quote<\/a><\/div>\n<\/div>\n
Calculate Your Needs<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\nSo Is 20-year Term Length Better than 10 or 30-year Term Policy?<\/h2>\n\n\n\n