A 20 year term life policy provides you with life insurance protection for a period of 20 years.
A 20 year level term life insurance plan means you have the same amount of life insurance each year, the coverage stays the same.
Also, the amount of life insurance premium you pay for your life insurance coverage will be the same amount each year.
Level term life insurance is the most popular type of term life insurance.
With a 20 year term life plan, if you outlive the 20 year term, the life insurance coverage expires. If you die during that 20 year period, your beneficiary would receive the death benefit from your life insurance policy.
If you have renewable term life insurance, you can choose to renew your term life insurance for another 10 year term, when the first 20 years has ended. You do not have to take a physical exam ti qualify for the renewal term, but the new rate you pay is based on your age at that time.
In addition, other terms available for term life insurance may include 10, 15, 25 or 30 years of coverage.
Learn more about 20 year term insurance and request your free life insurance quote today.