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.
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.
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.
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.
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.
| 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 Term Life Insurance Cost Guide.
Term life vs. whole life.
Two different tools for two different jobs. Here is how they compare.
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.
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.
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.
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.