Term Life
Big, simple protection for the years they depend on you.
Coverage for a set number of years — usually 10, 20, or 30 — sized to outlast the mortgage and the years the kids are still at home. Your premium stays level for the length of the term you choose.
- ✓ Level premiums for the full term you select
- ✓ Simplified underwriting available for many applicants
- ✓ Most policies can be converted later, subject to policy terms
Good fit if…
You have a mortgage, young kids, or anyone who would struggle without your income for the next couple of decades.
How much?
It depends on the income and debts you're covering and for how long. Your agent sizes it with you on the call — no guessing from a web form.
The call
15 minutes with a licensed Minnesota agent, plain English. If term is all you need, term is all we'll talk about.
How it actually works
You pick a term and an amount. Usually 10, 20 or 30 years. The premium is level for the entire term.
It pays only if you die during the term. There's no cash value and nothing back at the end. That's why it's cheap.
Premiums are based on your age at issue. The policy doesn't get more expensive as you age within the term. Buying at 35 and holding to 65 costs the 35-year-old rate throughout.
Most policies are convertible. Within a conversion window you can convert to a permanent policy without new medical underwriting. If your health changes, that option matters a great deal.
After the term, it gets expensive fast. Most policies continue on an annually renewable basis at sharply increasing rates. The plan should be that you no longer need it by then, not that you'll keep renewing.
When this is the wrong fit
Term is the right answer more often than anything else we sell. It's still wrong if:
- Your need is permanent rather than temporary — a child with a disability who will need lifelong support, or an estate with a liquidity problem.
- You'd be uninsurable at the end of the term and would still need coverage. Look hard at conversion options before you assume 20 years is enough.
- You're buying a term so short it expires while your kids are still at home. Match the term to the obligation, not to the premium you'd prefer.
The most common mistake we see isn't buying term. It's buying too little of it for too short a time.
Not sure which of those you are?
Fifteen minutes with a licensed agent and you'll know. If it's not a fit, we'll say so.
Questions, answered straight
A licensed Minnesota agent, at a time you pick.