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How Long Should My Term Coverage Last?

Thinking about getting a Term Life Insurance policy, but don’t know where to start or how much coverage you need? Luckily, we have a few ideas that could help you choose the life insurance options that work for you.

How Term Life Insurance Works

Not unlike auto insurance, you pay premiums for a specific period of coverage – 10, 20, 30 years or up to a certain age. Term policies are usually more affordable than permanent policies as they don’t provide Cash Value. ¹

Types of Term Insurance Available

There are a few factors to consider when it comes to your Term policy, like:

Do you have a mortgage, student loans, credit cards or other debts? What is your cost of living each year? What is your budget for life insurance? What is your age and health status?

These questions can help you determine the period of coverage and the amount of coverage you need in the case of your death.

EZ  Term ^® Life Insurance – can be great for younger people who may be on a limited budget.

• $50,000 of coverage until age 40
• Premiums remain the same throughout the life of the policy
• You can convert to a permanent policy any time before age 40

Level Term Life Insurance – affordable options for young families.

• $100,00 Guaranteed Death Benefit or more if premiums are paid on time
• Term options of 10, 20 or 30 years. Premiums are anticipated to remain the same for the selected number of years then renew at yearly renewable term rates.²
• You can convert to a permanent policy during the conversion period

Shelter Express Term^® Life Insurance – for people between the ages of 18 and 60, who are in good health and don’t have a dangerous occupation or hobby.

• $50,000, $75,000 or $100,000 coverage amounts available
• Premiums remain the same for 30 years or until age 65, whichever comes first
• Guaranteed Death Benefit to age 95 and long as premiums are paid on time

If you are looking for a solution that protects your family for a certain period of time in the case of your death, Term Life Insurance might be the best option for you. Contact your local Shelter Agent to see which option fits your needs.

¹ Cash Value is the amount of annuity or permanent life insurance policy you can access through loans or partial withdrawals.

²Guaranteed for 10 years on 10 Year and 20 Year Level Term, guaranteed for 15 years on 30 Year Level Term.

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The product information contained on this website is informational only and not a statement of contract. All coverage options are subject to the provisions of the policy purchased and details of the policyholder's situation.

Shelter Life Insurance Company, 1817 West Broadway, Columbia, MO 65218