Spectrum Insurance Group

20 Year Term Life Rates

A 20-Year Term plan gives adults ages 18-49 extra coverage at a time when financial responsibilities can be at their peak. It's the easiest way to provide for your family if you are suddenly out of the picture. In most cases, you can qualify without a medical exam.

After 20 years, you can choose to renew your policy at the premium for your age at that time. Your option to renew is mostly guaranteed-without a physical-until age 65. Or, if you prefer, convert your coverage to a Whole Life policy up to age 65 without a medical exam.

20 Year Term Life Insurance Policy

Keep Your Loved Ones Protected With a 20 Year term Policy Compare Term Policy Rates Now.

If you are considering purchasing a life insurance policy and you are between the ages of 18 and 49, you might want to consider purchasing a 20 year term life insurance policy. By purchasing a 20 year term life insurance policy during this time in your life, you can be certain your financial responsibilities will be covered if you were to pass away. In short, you can rest easy in knowing that your family will be taken care of if you were to suddenly be out of the picture.

The reality is that most people experience their greatest financial responsibilities between the ages of 21 and 60. Between going to college, raising a family, purchasing a home and planning for retirement, individuals between these ages have to make many financial decisions. In addition, if you are married or have children, there are people in your life who are counting on the money that you contribute to the household. By purchasing a term life insurance policy for a guaranteed period of twenty years, you can be certain the policy you are purchasing is one that will keep your family protected if you were to pass away.

Is It right For You

Of course, when purchasing a 20 year term life policy, there are many things that you need to take into consideration. For example, it is important to realize that a twenty year term policy does not increase in value over time. Rather, the value of the policy is established at the time it is purchased and that value does not change. Second, it is important to note that renewal can be costly. Therefore, if you are on the younger end of the age spectrum, you might want to consider purchasing something that will be in place for longer, such as a 30 year term policy or permanent life insurance policy. This way, you can be sure the policy will remain in place and at a set cost until your future children are out of the house.

When purchasing a 20 year life insurance policy, you will need to take several things into consideration. Obviously, you will want to get as much coverage for your family as possible, but you also need to make certain your policy is affordable. Therefore, you need to consider how much money your family will actually need if you were to pass away as well as how much you can afford to pay toward your premiums. By comparing different policies and taking a closer look at your current financial situation, you will find the right term insurance to suit your personal needs.

After you purchase your policy, you will need to determine who the beneficiary will be. The beneficiary is the person who will receive the money if you pass away, If you are married, the most logical beneficiary would be your spouse. If you are not married, but you have children, your children will most likely be the beneficiary. You may also choose to list multiple beneficiaries if you are not married and you have more than one child. In this way, you can be certain the money will be split up evenly among your children.


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