How long should I get a term life insurance policy for?

Question

I'm researching term policies to cover the shortfall for life insurance from my work. How long is reasonable to get a term policy for? Term to 60, 75 or 100 years?

Answer 1

a few questions for you one do you pay for your policy at work if you do then stop you do not want to pay for something now and then if you leave before you retire you are out of luck usually where that coverage would drop off so I would recommend instead just getting a term policy and using some of that money that you would have used for the premium at work and a little extra that you would already be paying
2 how old are you I would get as long as a term that you can afford because the fact that you cannot guarantee how healthy you are going to be in 5 year let alone 30 years
3rd I would tell you what I would do if I where you I would get a $100,000.00 UL policy plain and simple that rate would stay the same for the rest of your life, and then if I needed more then the $100,000.00 I would then get a term policy for the remainder in a term policy for the maximum amount of time that one the insurance company offers you and secondly that you can afford if you have questions and want to hear some rates IM me at rahnside and I can pull them up for you I or another Life Agent is Licensed in every state of the US and have over 20 AM Best A- or better companies
A Life Specialist
Rahn A. Sidebotham II

Answer 2

I’m not sure you can get term life for quite that long; even if you could, whole life would probably be a better option because it’s worth more the longer you keep it – unlike term life insurance. Remember that you can get renewable term life as well if you would like to continue coverage after your term ends.

I’ve linked to two articles describing how you calculate how much life insurance you need and two links to online calculators to help you figure it out. The first article includes some online calculators and tables as well. Deciding how much life insurance is enough is a very personal decision – what’s right for you might not be right for someone else. I’ve also linked to an article about what to look for in renewable term life insurance.

Once you’ve figured out how much life insurance you would like to purchase, try shopping around for the perfect policy at MostChoice.com. Like a lot of sites, you can find free online quotes and policy information, but you can also get in touch with locally licensed life insurance agents. Talking with more than one agent will help you better understand what’s available near you and putting more than one agent to work for you will increase the chance that you will quickly find the right coverage at the right price.

You can find MostChoice here:
http://www.mostchoice.com/life-insurance.cfm

Hope this helps,
Barnes@MostChoice

Answer 3

That depends on many factors. (1) Do you have minor children (2) do you have someone who is disabled and depends on you for support (3) What is your estimate on Social Security and is there a pension or 401 where you work. (4) how old are you. Add up all that you have and make an estimate of how much you think your survivors will need until at least your children are out of school. That will tell you the amount you need. Then ask yourself how many years before your minor children are adults and will be able to support themselves, this is how long you will want term life insurance.

Answer 4

I suggest you to try this website where onel can compare rates from different companies: http://cheap-insure.info/index.html?src=2YApdnuuPJ50

RE :How long should I get a term life insurance policy for?
I'm researching term policies to cover the shortfall for life insurance from my work. How long is reasonable to get a term policy for? Term to 60, 75 or 100 years?
Follow 13 answers

Answer 5

It depends on your age and responsibilities. If you are young, and raising a family, then they need to be protected through college. If you are older, have your children raised, you may just need it through your working years while you still have an income that is depended on and/or a mortgage.

Term is definitely the best route to take. Do not purchase a Whole Life Policy thinking at some time in the future you will have a great cash stash. They don't work like that, and don't be fooled by some slick agent who tells you that it is the deal of the century.

Answer 6

The longest term for term policies is 30 years.

You should meet with a financial planner. Insurance is just one aspect of your financial life and it meshes with all the other areas.

No one on a message board can tell you what amount or what type of insurance to purchase unless you want to post all of your other financial information - age, health, income, assets, debts etc.

Good Luck

Answer 7

Depends on your age....if your in your 20's & 30's then a 30 year term will be all that you need because you'll find that as you get older than your coverage will change to meet your life expectancy. Getting coverage that is more than 8 times your annual income is overkill. Life insurance is designed to protect your family from the loss of income when you pass away. If you think it is more likely that you will be disabled instead of deceased than I'd get disability insurance.

Answer 8

The longest term you can get - however, I've never seen a term policy for longer than 30 years, and it's been quite a while since I've seen a term policy THAT long.

Answer 9

30 years

Answer 10

depends on how long you need the coverage to offset your earning loss. And , the top good investment advisors now tell you to get whole life or universal life, not term. You pay more, but you actually have some cash to show for your efforts.