Protection (US)
Help protect the people who depend on your income.
Term life insurance can provide coverage for a defined period and may help address income replacement, debt, housing, education, and other family needs after an insured person's death.
What term life insurance is
- Coverage for a stated term — for example, a set number of years.
- A death benefit paid according to the policy's terms if the insured dies during the term.
- A premium structure that depends on the specific policy.
Needs the coverage may help address
- Income replacement for a spouse or dependents.
- Mortgage or rent.
- Consumer or business debt.
- Education costs.
- Childcare or caregiving.
- Final expenses.
Estimating coverage needs
A needs-based conversation typically considers:
- Income obligations and how long they would continue.
- Existing savings and insurance already in place.
- Outstanding debt.
- Dependents and your time horizon.
- Future goals you want protected.
The application process
- Introductory discussion of needs and budget.
- Coverage estimate.
- Application.
- Underwriting — which may include health questions or an examination.
- Carrier decision.
- Policy delivery and review.
Coverage is not issued automatically, and not every applicant will qualify. Underwriting outcomes and premiums depend on the carrier's requirements.
Important considerations
- Policy exclusions and limitations.
- Conversion options, when the policy offers them.
- Renewal provisions and how premiums may change.
- Carrier financial strength.
- State availability.
Frequently asked questions
How much coverage should I consider?
There is no universal number. A needs-based review of income, debt, dependents, and goals is the starting point — and the amount should be revisited as life changes.
How long should the term be?
Many people match the term to their longest obligation — the years until a mortgage is paid or children are independent. The right length depends on your situation.
Is a medical exam required?
Underwriting requirements vary by carrier and policy. Some involve an examination; others rely on health questions and records. Requirements are confirmed during the application process.
Can a policy be converted?
Some term policies include options to convert to permanent coverage within a window, without new medical underwriting. Whether and how depends on the specific policy's terms.
What affects the premium?
Typically age, health, coverage amount, term length, and the carrier's underwriting classification. Premiums are not guaranteed until a policy is issued.