20-Year Term Life Insurance

If you have a family, a spouse, or anyone who relies on your ability to earn a living then you should consider life insurance.

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What is Term Life Insurance

Term Life Insurance is meant to protect individuals of financial burden in the event of an unexpected death. It is a predetermined lump-sum amount of money provided to your named beneficiaries after your death.

The premium you pay each year remains the same for the duration of the policy and the cost is based on the summed cost of each year’s annual renewable term rates, with a time value of money adjustment made by the insurer.

A 20-year term can be particularly useful for people between the ages of 40 and 65, depending on their current life situation.

Advantages of 20-Year Term Life Insurance

Locked in rates
Shorter term
Can be cancelled anytime
Can be converted anytime

The main advantage of a 20-Year Term Life Insurance policy is that it tends to be an affordable product that provides coverage for amortization periods on mortgages. It can be cancelled at anytime and acts as a non-taxable benefit. Should you decide to do so, you can  convert your 10-year policy into a permanent life insurance product or other renewal term products that can protect a young family.

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How Much Does 20-Year Term Life Insurance Cost?

Over the years, 20-year term life insurance rates have stayed fairly consistent. Most term life insurance pricing is based on your gender, lifestyle, smoking status (ie. a male non-smoker will pay less than a male smoker), overall health, as well as your age. Other factors that will affect the premium you pay are the history of medical issues, your occupation, and other miscellaneous factors.

If you would like to get an exact quote on the 20-year term life insurance cost, or you would like to know more about tax-free benefits and the coverage it provides for twenty years, one of our Life Insurance agents will gladly assist you.

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Frequently asked Questions

What is 20-year term life insurance?

20-year term life insurance is a type of life insurance that offers coverage for a specific period of 20 years. The policy pays a death benefit to the beneficiary if the insured person dies within that period. After 20 years, the policy expires, and the coverage ends

Who is eligible for 20-year term life insurance?

InsureBC's 20-year term life insurance policy is typically designed for individuals between the ages of 40-65 who wish to protect their loved ones. However, eligibility criteria such as medical underwriting and other factors may affect your eligibility. Contact your broker for more details.

How much does 20-year term life insurance cost?

When it comes to the cost of 20-year term life insurance, several factors can influence it. Your age, health status, and other underwriting criteria can impact the cost of your policy. While premiums for 20-year term life insurance are typically affordable and cost-effective, the exact amount you will pay may vary. Therefore, for more details on the cost of a 20-year term life insurance policy, it is best to contact your broker.

Is 20-year Term Life Insurance for Me?

Find out for yourself by answering a few simple questions and allowing one of our Life Insurance experts to contact you in order to give you a free, no obligation quote. Or you can contact us at 1-877-801-7189.

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