The most affordable way to protect your family's income, mortgage, and financial future — for the years that matter most.
Get a Free Term Life QuoteTerm life insurance provides a guaranteed death benefit for a specific period of time — typically 10, 15, 20, 25, or 30 years. If you pass away during the term, your beneficiaries generally receive the death benefit free of federal income tax, although exceptions may apply. If you outlive the term, the coverage ends (though most policies offer a conversion option).
Term life is the most straightforward and affordable type of life insurance available. A healthy non-smoking adult can often obtain meaningful coverage for less than a monthly cell phone bill.
Illustrative example only: a healthy 35-year-old non-smoking woman may see 20-year term quotes in the range of $20–30/month for $500,000 of coverage. Premiums vary by carrier, age, sex where permitted, health, tobacco use, coverage amount, term, underwriting class and state. Coverage and rates are subject to underwriting and carrier approval — this is not an offer or guarantee of coverage.
You choose the coverage amount (death benefit) and the term length. You pay a fixed monthly or annual premium for the duration of the term. If you die during the term, your beneficiaries file a claim and receive the death benefit. Simple as that.
Most term policies also include the option to convert to permanent insurance without a medical exam — a valuable feature if your health changes during the term.
| Term Length | Best For |
|---|---|
| 10-Year Term | Near-retirement, short-term debt protection, supplemental coverage |
| 15-Year Term | Mid-term mortgage balance, children in high school/college |
| 20-Year Term | Most popular — covers young children through college graduation |
| 25-Year Term | Long mortgages, younger parents wanting extended protection |
| 30-Year Term | Young families, maximum long-term income replacement |
A common rule of thumb is 10–12 times your annual income. However, a more accurate calculation considers:
Omaha Life Group will walk through a complete needs analysis with you — at no charge — to determine the right coverage amount for your situation.
You have several options when your term expires:
Planning ahead is key. Omaha Life Group helps clients layer and time their policies to help reduce the risk of an unintended coverage gap.
Many carriers offer accelerated or no-exam underwriting for qualifying applicants. No-exam does not mean guaranteed issue — approval may still depend on your answers to health questions, prescription history, medical records, and other underwriting databases. Traditional fully underwritten policies that include a medical exam often offer lower rates. We'll help you determine which approach makes sense for your situation.
Yes, in many cases. Some health conditions result in higher premiums (called a "rated" policy), while others may qualify for standard or preferred rates depending on the carrier. As an independent broker, we shop multiple carriers to find the ones most favorable to your specific health profile.
Group coverage through your employer is typically only 1–2x your salary — far less than the 10–12x most financial advisors recommend. It also disappears if you change jobs. A personal term policy guarantees your family is protected regardless of your employment status.
The younger and healthier you are, the lower your premiums will be — and they're locked in for the entire term. Buying in your 20s or 30s typically results in the lowest rates. That said, term life is available at almost any age, and it's never too late to protect your family.
Requesting a quote takes just a few minutes. We compare options from multiple carriers to help you find a competitive rate.
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