Term life insurance policies provide a payout to the listed beneficiaries if the policyholder passes away while the policy is in force.

A Term policy is in force for the duration of the “term,” so long as the premiums are paid. This term is decided at the time the policy is created. It’s often done in increments of ten, as in a 10-, 20-, or 30-year term life policy. That means if the policy expires and the applicable duration or term has completed, there won’t be a payout. So, while these policies are often less expensive than permanent life insurance, the policyholder may outlive the policy.

Everyone’s life insurance needs are different. There are some scenarios where a 30-year life insurance policy could be the right choice for you, such as if you have financial goals, plans, or obligations spanning roughly 30 years. To help with planning, consider using the web tool to calculate coverage.

• Young people planning for the future
  Whether you’re just beginning a career out of college or family planning with a spouse, young people making plans for the future can be an ideal demographic for considering a 30-year Term policy. For many people in these situations, such a policy would cover them until their fifties or sixties.
• People with special needs children
  Having a special needs child can involve planning and research that other parents may not need. One part of this is finding ways to ensure your child’s financial stability well into the future. A 30-year Term life insurance policy can help provide some of that financial security.
• People with a new 30-year mortgage
  Taking out a life insurance policy to match the size and duration of your mortgage can help ensure that your home is secure for your family, even if you were to pass away before the mortgage was fully paid off. Indeed, debt is one of the more common items that life insurance can help with.
• People with 30 or more years until retirement
  People with roughly 30 years left until retirement may want a lengthy Term policy to offset the risk of income loss if they were to pass away. This approach can provide financial security to your family or dependents at a time when it’s needed most.
• People who want the best rates on their life insurance
  Term life policies often have the best rates. The younger and healthier you are when you begin the policy, the better these rates are likely to be. It’s common for Term policies to have fixed rates, so starting young and taking out a 30-year level Term life insurance policy can help lock in low rates for a long time. For this reason, 30-year life insurance rates are often some of the most competitive.