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Hard to qualify

Term Life Insurance

Term life provides a large death benefit for a fixed number of years (10, 20, or 30). It's the most affordable way to buy high coverage, but it's also significantly harder to qualify for than final expense.

Age rangeGenerally issued ages 18–65 (shorter terms only past 60)
Medical examMedical exam and health underwriting usually required
Typical coverage$100,000 – $1,000,000+
Builds cash valueNo

Who qualifies

Term life requires full medical underwriting. Applicants with significant health conditions, or those outside the issue-age window, are frequently declined. The older you are, the shorter and more expensive the available terms become.

How it works

  1. 1

    You pick a term length (commonly 10, 20, or 30 years) and a coverage amount.

  2. 2

    You must pass health underwriting — often including a medical exam, lab work, and a review of your medical history.

  3. 3

    If you pass away during the term, your family receives the full benefit. If you outlive the term, coverage ends with no payout.

  4. 4

    Rates are locked for the length of the term, then rise sharply if renewed.

Best for

  • Younger, healthier applicants who can pass underwriting
  • Replacing income during working years or covering a mortgage
  • Those who need large coverage at the lowest possible cost

What to consider

  • Hard to qualify for: health conditions and age can lead to a decline or a heavily rated (more expensive) offer.
  • Age matters — most carriers stop issuing new 20- and 30-year terms well before age 65.
  • No cash value, and coverage expires at the end of the term with nothing returned.

See what you actually qualify for

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