30-Year Term Life Insurance

That depends on your circumstances and your family’s long-term needs. If you’re under the age of 50 and looking for long-term yet temporary life insurance coverage, a 30-year term could be the best choice for you. Many people choose 30-year term life when they first get married or after having their first child to protect their family over the years. That said, a 30-year term typically costs more than a 10- or 15-year policy, so make sure you’re not buying more than you need. Make sure to consult a life insurance professional about what’s best for you.

Thirty-year term life insurance provides affordable coverage during the years you need it most. Term policies are significantly less expensive than whole life plans, saving you money throughout your policy’s lifetime. And if you won’t need coverage after 30 years, you can simply let your policy expire when it comes to an end.

If you think you’ll still need life insurance after 30 years, a whole life policy could be a better option for you. Though whole life insurance has higher premiums, it also lets your policy earn cash value over time through interest.

At the end of your 30-year term policy, you’ll have several options. You can:

• Renew your current coverage
• Buy a new policy
• Switch your term policy to permanent insurance, in some cases
• Let your coverage expire and stop making payments

No. A 30-year level term policy’s premiums stay steady, no matter how old you get or what health issues you face. The only way your premiums will increase over the next 30 years is if you choose an increasing term policy, which increases your death benefit as well as your premiums each year.

Yes, you’ll usually need a physical exam before an insurance company will issue your policy. This exam is free to you and includes your height, weight, and medical history. A licensed professional may also take blood and urine samples. Your medical exam results can help determine your life insurance rates. Get our tips for taking a medical exam here.

At eFinancial, we’ll help you set up an appointment right in your home or office. Once you’ve taken your physical, your premiums will remain set throughout the next 30 years, even if your health declines. With a little preparation ahead of time, you can lock in the most competitive rates.