Term Life Insurance
Simple, affordable protection for the years that matter most.
Term life insurance gives your family a financial safety net at a price that fits your budget — for exactly as long as you need it.
Fixed coverage period
Choose a term of 10, 20, or 30 years to match your coverage needs.
Level premiums
Your premium stays the same for the entire term — no surprises.
Income replacement
The death benefit can replace lost income for your dependents.
Mortgage protection
Coverage can be sized to match your outstanding mortgage balance.
What is term life insurance?
Term life insurance provides a death benefit to your beneficiaries if you pass away during a set coverage period — typically 10, 20, or 30 years. If you outlive the term, the policy ends with no payout and no cash value.
Because it covers a defined window of time rather than your entire life, term life is generally the most affordable type of life insurance. It's designed to replace your income and protect the people who depend on you during your highest-earning, highest-responsibility years.
Who may benefit from term life insurance?
Young families
Parents with children at home who want income replacement if the unexpected happens.
Homeowners
Those who want to ensure their mortgage is covered so their family can stay in their home.
Primary earners
Anyone whose income supports a household and wants to protect that financial foundation.
New parents
Parents who want coverage in place through their children's school years and beyond.
How term life insurance generally works
01
Choose your term length
Select a coverage period — commonly 10, 20, or 30 years — based on how long your dependents will need financial support.
02
Pick your coverage amount
Choose a death benefit amount intended to replace your income, cover your mortgage, or fund your family's future needs.
03
Apply and qualify
Most term policies require a health questionnaire and may require a medical exam. Eligibility and premiums depend on your age, health, and other factors.
04
Pay your premium
If approved, your premium is typically fixed for the entire term. Your beneficiaries receive the death benefit if you pass away while the policy is in force.
Typical coverage amounts
Coverage availability and eligibility depend on your age, health, state of residence, and the insurance carrier. No premiums are calculated or guaranteed on this page.
$100,000
Entry-level protection
$250,000
Mortgage & income coverage
$500,000
Full family protection
$1,000,000+
High-income replacement
Term life vs. whole life — a quick comparison
Feature
Term Life
Whole Life
Coverage period
Set term (10–30 years)
Lifetime
Typical premium
Generally lower
Generally higher
Cash value
None
Builds over time
Best for
Income & mortgage protection
Legacy & lifelong coverage
Expires?
Yes, at end of term
No, as long as premiums are paid
Important things to understand
Term life insurance does not build cash value. If you outlive the policy, you receive nothing back.
Coverage ends when the term expires. Renewing or purchasing a new policy at an older age typically costs more.
Premiums and eligibility depend on your age, health history, tobacco use, and other underwriting factors. Not everyone qualifies at every coverage level.
Product availability, coverage amounts, and terms vary by state and by the insurance carrier.
Common questions about term life insurance
Many term policies offer a renewal option, though premiums typically increase at renewal since you'll be older. Some policies also offer a conversion option to permanent coverage. Terms vary by carrier and policy.
If you outlive your term, the policy simply ends. There is no payout and no cash value returned. You can apply for a new policy if you still need coverage, though premiums will reflect your current age and health.
It depends on the carrier and coverage amount. Some policies offer simplified or no-exam underwriting, while others require a full medical exam. A licensed Afterly agent can help you understand your options.
A common starting point is 10–12 times your annual income, though your specific needs depend on your debts, dependents, income, and financial goals. A licensed agent can help you think through the right amount for your situation.
Term life is often a good fit if you have dependents, a mortgage, or income others rely on — and you want meaningful coverage at a lower cost. Whether it's the right choice depends on your individual circumstances. A licensed Afterly agent can help you evaluate your options.
Ready to explore your term life options?
Answer a few questions and a licensed Afterly agent will follow up with term life options tailored to your situation — no pressure, no commitment.
See My Term Life OptionsLife insurance products are not available in all states. Product features, coverage amounts, eligibility, and premiums vary by carrier, state, and individual underwriting. This page is for educational purposes only and does not constitute an offer or guarantee of coverage. Afterly Life connects consumers with licensed insurance agents. Coverage is subject to policy terms and conditions.