Which term length is right for me?

Strategic planning, aligning term life insurance with your life’s milestones.

Term Life Insurance:

Deciding how long you want to be insured is largely dependent on two factors: your financial obligations (dependents, mortgage, etc.), and how much you are comfortable spending on your policy. The longer the term policy, the more expensive your premium will be because it increases the risk that the insurance carrier will have to pay out your death benefit.

For example, perhaps you and your spouse just purchased a home with a 30-year mortgage. You may want to consider purchasing a 30-year term policy on each other in case something unexpected happens and one of you is left to pay off the balance of your home.

Another common example would be purchasing a 15-year term policy to cover the time in which you have children or dependents living in your home so that if anything happens to you, your family can afford to pay off expenses, replace the income you were providing, and protect their financial future.