Should I get 20 or 30 Year Term Life Insurance?

20 or 30 Year Term Life Insurance: Which is Best?

The choice between going with a term life insurance policy that is 20 years versus 30 years is a difficult one that many individuals get confused by. What are the total costs incurred? Do you live a certain lifestyle or have a profession that would be better served by a longer policy?


Generally, a 30 year term life insurance policy is better if:


  • You are recently married to your spouse.
  • You're expecting a baby, or have plans to raise children very soon.
  • There are very young children in your family.

A 20 year term life insurance policy is a good choice if:

  • You're looking for a more affordable policy.
  • You have children who will be financially independent by the time your policy expires.
  • You are confident that at the end of the policy, you will be in a comfortable position financially that will allow you to switch to another policy.

Because your policy is affected by your age and overall health, choosing a longer duration policy may be more expensive. It's also worthwhile to note that if you are raising a child with a mental illness or disability, it is a much more viable option to consider a longer policy for yourself, as they will be dependent upon you for life.


When shopping around for 20 or 30 year term life insurance, you want to find the best quote possible. The best way to find the most competitive rates is by contacting our team at The Mutual Fund Store. With 25 years of experience, we are a leader in term life insurance, and committed to giving you the best service possible.


We'll shop around from over 200 life insurance companies to find you the best priced policy. When it comes to saving for the future, we realize just how precious and important your family is to you Our experts will help you to determine whether you would be best suited for a 20 or 30 year term life insurance policy.


Ready to get started? Give us a call today!

The 5 Most Common Life Insurance Mistakes

Subscribe to our information course and get tips on choosing the best life insurance policy for you:



Insurance Needs Calculator Existing Term Life Insurance Clients

Follow Us: Like Us On FacebookFollow Us On TwitterWatch Us on YouTube

Term Life Insurance products are offered through TMFS Insurance Agency LLC, a separate company, affiliated with Financial Engines Advisors, L.L.C. (FEA), in states where licensed. TMFS Insurance Agency, LLC is under common ownership with FEA. Each entity is its own separate entity that provides services for its client independent from the other.