What is term life insurance?
Term life insurance provides coverage for a specific amount of time: typically 10, 15, 20, or 30 years. It's affordable and simple — it may make sense if you only want protection for the years you plan to support loved ones financially. If you pass away during the term, the death benefit of a term policy can be used however your beneficiaries choose.
What are the benefits of term life insurance?
Unlike whole life and universal life, which last your entire lifetime, term life insurance only lasts as long as you need it to. This makes it significantly more affordable and a popular choice.
Comparing term and permanent life insurance
Term life insurance differs from permanent life insurance in the following ways.
When's the best time to buy term life insurance?
Generally, the younger and healthier you are, the lower your life insurance rate will be. If you're married, buying property, or starting a family, term life insurance is an affordable way to help make sure your family has financial security if you die unexpectedly.
Which term length is right for me?
Wondering how long you'll need term life insurance? That depends on your budget and how long you'll be providing financial support to your loved ones.
Compare term life insurance quotes
As you consider term life insurance policies, research insurers and plans to find the right rate and coverage for you. Through eFinancial, you can easily compare term life insurance policies to see how your rate changes based on the policy type, coverage amount, and insurer.
eFinancial offers a variety of simplified term life insurance options such as RAPIDecision® Life, making it possible to purchase affordable life insurance quickly with no medical exam.
Learn more about term life insurance
Have more questions about term life insurance? Start with these popular articles, and explore our life insurance tips and resources.