Term Life
Insurance
The most affordable way to protect your family. Choose a term of 10 to 30 years, lock in your rate, and know that the people who depend on you are covered.
Simple, affordable coverage for the years that matter most.
Term life insurance is the most straightforward type of life insurance. You pick a coverage amount, choose a term length, and pay a fixed monthly premium. If something happens to you during that term, your family receives a tax-free death benefit.
It is the most popular form of life insurance in the United States because it delivers the most coverage per dollar. A healthy 35-year-old can often get $500,000 in protection for less than $25 a month.
Your premium stays the same for the entire term. A 20-year policy locked in at $30 a month costs exactly $30 a month in year one and year twenty. This predictability makes term life easy to budget for, unlike renewable annual term that increases every year.
Coverage amounts range from $100,000 to over $10,000,000, with terms of 10, 15, 20, 25, or 30 years. No-exam options are available for many applicants. If you outlive your term, the policy ends and there is no cash surrender value. Many policies include a conversion option that lets you switch to whole life before the term expires without a new medical exam, giving you a path to lifetime coverage if your needs change.
See what your rate could beAvailable term lengths
Match your term to your longest financial obligation.
Designed for people with people counting on them.
If anyone depends on your income, term life is the most cost-effective way to protect them. It is also a smart choice for covering specific debts, protecting a business partner, or bridging the gap until your retirement savings can sustain your family on their own.
Homeowners with a mortgage
Match a term to your mortgage length so your family never has to worry about losing the home.
Parents of young children
Cover the years until your kids are grown and financially independent. A 20- or 30-year term is the most common choice.
Primary income earners
Replace years of lost income if the worst happens. A common guideline is 10 to 12 times your annual salary.
What you get with a term life policy.
The most affordable coverage
Term life delivers the largest death benefit for the lowest monthly premium of any life insurance type.
Rates locked for your full term
Your premium is set the day you are approved. It stays the same for 10, 20, or 30 years.
No medical exam options
Many carriers now offer no-exam policies up to $1,000,000 for qualified applicants. Fast approval, no doctor visits. See our full no-exam term guide.
Tax-free death benefit
Your beneficiary receives the full payout tax-free. They decide how to use it, with no restrictions.
Convertible to permanent coverage
Many term policies let you convert to whole life or universal life without a new medical exam before the term ends.
Coverage in as little as 24 hours
No-exam policies can be approved the same day you apply. Coverage starts fast when your family needs it.
More coverage for less money.
Term life is the most affordable type of life insurance. Your rate depends on your age, health, coverage amount, and term length. Below are average monthly ranges for healthy non-smokers.
Six factors drive your term life premium: your age at the time you apply, your health history and current medications, whether you use tobacco, the coverage amount you choose, the length of the term, and your gender. Locking in a rate at a younger age saves the most over the life of the policy. Tobacco use adds 30% to 50% to most term rates.
| Coverage | Ages 20s | Ages 30s | Ages 40s | Ages 50s |
|---|---|---|---|---|
| $250,000 | $13 to $20/mo | $15 to $25/mo | $30 to $55/mo | $65 to $120/mo |
| $500,000 | $20 to $35/mo | $25 to $42/mo | $50 to $95/mo | $110 to $200/mo |
| $1,000,000 | $32 to $55/mo | $40 to $68/mo | $85 to $160/mo | $185 to $340/mo |
These are estimates for a 20-year level term. Your actual rate may be lower. The only way to know is to speak with a licensed specialist. It takes about 10 minutes and there is zero obligation.
For a detailed breakdown of term life costs by age and term length, see our 2026 Term Life Rates by Age Chart. Seniors 50 to 70+ can also explore our Term Life for Seniors guide. Seniors past 70 who need permanent rather than temporary coverage can see our final expense coverage for seniors over 70 guide.
Term life vs. whole life.
Two different tools for two different jobs. Here is how they compare. For a closer look at how term stacks up against mortgage-specific coverage, see our term life vs. mortgage protection comparison.
Maximum protection, lowest cost
- Covers you for 10 to 30 years
- Most affordable monthly premiums
- Best for income replacement and debt coverage
- No cash value component
- Many no-exam options available
- Convertible to permanent on select policies
Lifetime coverage, builds value
- Coverage that never expires
- Higher monthly premiums (3x to 10x more)
- Best for estate planning and final expenses
- Builds cash value you can borrow against
- Rates locked in permanently
- Guaranteed death benefit for beneficiaries
One call. Every carrier on the table.
Most agents represent one insurance company. We represent you. As an independent brokerage, we shop the entire market to find your lowest rate. See our full carrier panel.
25+ carriers compared
We run your information through every carrier we represent to find the best rate for your specific health and age.
Your best interest, not ours
Our specialists are not incentivized to push any particular carrier or policy. The right fit is the only goal.
One specialist, start to finish
You talk to one licensed professional who handles everything. No transfers, no repeating yourself.
We stay with you after the sale
Policy questions, life changes, conversions. Your specialist is a phone call away for the life of your policy.
We find the right term policy for your situation.
Every applicant is different. We compare products across carriers based on your health, age, and coverage needs to find the strongest fit. Here is how it works: you share basic information about your age, health, and coverage goals. We run that through every term carrier on our panel. Within minutes, you see real quotes ranked by price and fit. If you decide to move forward, your Asurgo specialist handles the application paperwork and follows up with the carrier until the policy is issued. The entire process typically takes one to four weeks depending on the underwriting path.
Fully underwritten
Best rates for healthy applicants. Thorough review process with the most competitive pricing available. Carriers like Transamerica Trendsetter offer six risk classes so your health profile translates to the lowest possible rate.
Accelerated underwriting
Fast decisions, often same-day. Competitive rates with fewer medical questions. Ideal when you want speed without sacrificing value.
Simplified issue
No exam required. Broader health acceptance with coverage in as fast as 24 hours. Mutual of Omaha Term Life Express covers up to $550,000 with no exam, and Royal Neighbors JET offers 15, 20, and 30-year terms for ages 18 to 65.
Compare your underwriting options at a glance.
| Feature | Full Underwriting | Accelerated | Simplified Issue |
|---|---|---|---|
| Medical exam | Yes | Sometimes | No |
| Max coverage | Up to $10M | Up to $5M | Up to $550K |
| Approval speed | 2 to 4 weeks | Same day possible | 24 to 48 hours |
| Best for | Healthy, high coverage | Healthy, want speed | Health concerns, convenience |
Term life insurance options for common health conditions.
A health condition does not automatically disqualify you from term life coverage. How you qualify depends on the condition, its severity, and the carrier. Asurgo compares term products across carriers like Transamerica Trendsetter, Mutual of Omaha Term Life Express, and Royal Neighbors JET to find the right fit for your health profile.
Tobacco users
Most term carriers have a smoker rate class that adds 30% to 50% to your premium. Some carriers reclassify you as a non-smoker after 12 months without tobacco. Both simplified issue and fully underwritten term options are available for tobacco users. Read our term life guide for smokers.
Diabetes (Type 1 and Type 2)
Many diabetics qualify for level-rate term coverage at day one. Simplified issue carriers cover well-managed diabetes without an exam. Fully underwritten carriers evaluate you case by case and may offer preferred rates for controlled A1C levels. Read our term life guide for diabetics.
Heart conditions
Heart disease history limits simplified issue options because most carriers ask about cardiac events on the application. Fully underwritten term through Transamerica Trendsetter is often the strongest path if your condition is stable and well-managed. Read our term life guide for heart conditions.
If your health makes standard term coverage difficult, a guaranteed issue term policy may be an alternative. Guaranteed issue means no health questions and no medical exam, though premiums are higher and coverage amounts are smaller.
Common questions about term life insurance.
If your question is not here, call us. We will answer it.
How long should my term life policy be?
Match your term to your longest financial obligation. If your mortgage has 22 years remaining, a 25-year term makes sense. If your youngest child is 5, a 20-year policy covers them until they are 25. An Asurgo specialist can help you figure out the right length.
What happens when my term expires?
When your term ends, coverage stops. Some policies offer annual renewal at a higher rate, and many allow you to convert to a permanent policy without a new medical exam before the term ends. Planning ahead gives you the most options.
Do I need a medical exam?
Not always. Many carriers now offer no-exam term life policies up to $1,000,000 for applicants in good health. Higher amounts or certain health conditions may require an exam. Asurgo can compare both options for you.
How much term life insurance do I need?
A common guideline is 10 to 12 times your annual income, plus any outstanding debts like a mortgage. For example, if you earn $60,000 and have a $200,000 mortgage, you might consider $800,000 to $1,000,000 in coverage.
Can I convert my term policy to permanent coverage?
Most term policies include a conversion option that lets you switch to whole life or universal life without a new medical exam. This is a valuable feature if your needs change. Ask your Asurgo specialist about conversion details on any policy you are considering.
What is the difference between term life and mortgage protection?
Mortgage protection insurance is designed specifically to pay off a mortgage balance and the benefit typically decreases over time. Term life is more flexible because your beneficiary can use the payout for anything: mortgage, income replacement, education, or daily expenses. Term life is often the better value for homeowners.
Can I get term life insurance with a health condition?
Yes, many people with conditions like diabetes, high blood pressure, or a history of tobacco use qualify for term life. Simplified issue carriers like Mutual of Omaha Term Life Express skip the medical exam and cover common conditions at level rates. Fully underwritten carriers like Transamerica Trendsetter evaluate your health on a case-by-case basis. An Asurgo specialist can match your health profile to the carriers most likely to approve you at the best rate.
How do term life insurance rates change with age?
Term life premiums rise with age because mortality risk increases. A 30-year-old might pay $25 a month for $500,000 in coverage, while a 55-year-old could pay $150 or more for the same policy. Locking in a rate while you are younger saves significantly over the life of the policy. See our term life rates by age chart for detailed pricing at every age from 30 to 70.
Is term life insurance worth it?
For most families with a mortgage, dependent children, or a primary breadwinner, term life is the most cost-effective way to protect against lost income. It costs a fraction of permanent life insurance and provides the same death benefit. If you need coverage for a specific number of years, such as until your mortgage is paid off or your children are grown, term life is usually the best value.
What does a term life insurance payout look like?
If the policyholder dies during the term, the insurance company pays the full face amount to the named beneficiary. The payout is tax-free under current federal law. Most claims are paid within 30 to 60 days of receiving the death certificate and claim form. The beneficiary can use the money for anything: mortgage payments, daily living expenses, college tuition, or funeral costs. There are no restrictions on how the funds are used.
Can I get term life insurance for my spouse?
Yes. You can purchase a separate term policy on your spouse, or some carriers offer a joint term policy that covers both of you under one contract. A spouse who stays home and manages the household provides economic value that would be expensive to replace, so insuring both partners is a common recommendation. Asurgo can quote both individual and joint options to see which is the better value for your situation.
Nicholas Norminton, Licensed Insurance Specialist
Nicholas is a nationally licensed insurance specialist. He has helped thousands of clients secure life insurance coverage. Asurgo compares 25+ carriers in one quote so you get the right product at the lowest rate.
Protect the people who matter most.
Ten minutes with a licensed specialist. See your options across 25+ carriers, compare rates, and get covered. No obligation, no pressure.