What "Term" Lengths are Available for a Term Life Insurance Policy?

I want to purchase term life insurance, but how long does a term policy last, and what are my options?

There are several options available for the length of time you can get coverage with a term life insurance policy.

Usually, a life insurance company will offer term life insurance for a term of 5, 10, 15, 20 or 30 years of protection.

And, when the "term" of your policy ends, you may be able to "renew" your coverage for another term, which is usually 1, 5 or 10 years, at a higher rate based on your age at that time.

However, the maximum length of term available will depend on your age. For instance, someone age 70 may only be able to get term life insurance for a term of up to 20 years, usually.

Level term life insurance is the most common type of term insurance plan available, and it offers guaranteed level premiums for the duration of your term, while the amount of life insurance coverage provided stays level, too.