20-Year Term Life Insurance: Calculator, Rates, and Quotes

Shawn Plummer

CEO, The Annuity Expert

20-Year Term Life Insurance Calculator

A 20-year term life insurance calculator is a tool that gives you the cost of your policy over a 20-year term. It factors in age, gender, location, health, tobacco use, and the coverage amount. You can see how these factors affect your premiums by inputting your personal details.

20-Year Term Life Insurance

Definition and Function

20-year term life insurance is a policy that provides coverage for a fixed period of 20 years. The beneficiaries receive a death benefit if the insured person dies within this term. The policy has no value if the insured outlives the term, and it must be renewed or converted to a different policy to maintain coverage.

20-Year Term Life Insurance Rates and Quotes

The rates for 20-year term life insurance are determined by age, health, lifestyle, and the amount of coverage. Insurers provide quotes based on these details, representing the price you would pay for the policy.

Term Life Insurance Rate Example

AgeHealth$250,000 Policy$500,000 Policy$1,000,000 Policy
*Rates are illustrative and may vary by insurer.

Policy Features

A typical 20-year term life policy includes:

  • Fixed Premiums: The cost remains the same throughout the 20-year period.
  • Death Benefit: A tax-free sum paid to beneficiaries upon the insured’s death.
  • Renewability and Convertibility: Options to renew or convert the policy to permanent insurance after the term ends.
20 Year Term Life Insurance Cost

Comparing 20-Year and 30-Year Terms

The choice between a 20-year or 30-year term depends on long-term financial plans. A 20-year term might be more affordable and is commonly chosen by individuals anticipating fewer financial obligations after the term ends.

Life Insurance 20 Year Term

20-Year Level Term Life Insurance

“Level” in term life insurance indicates that the death benefit and premiums remain unchanged for the twenty-year duration of the policy.

20 Year Term Life Insurance


Choosing a 20-year term life insurance policy can provide financial protection for your loved ones during critical years. It’s essential to assess your needs and compare rates to find the right policy. Contact us today for a free quote.

20-Year Term Life Insurance Quotes

Feel free to contact us for a 20-year term life insurance quote. The service is free of charge.

Life Insurance Inquiry

Frequently Asked Questions

Is 20-year term life insurance worth it?

Absolutely! If you have dependents or need to pay off debt, this policy is a perfect choice. With an affordable premium and manageable duration that matches your timeline for financial obligations, it’s a great way to provide support when it matters most.

What is the difference between 20 and 30-year term life insurance?

A 20-year term policy costs less than a 30-year term policy, although if you believe coverage is necessary for the entire thirty years, it’s best to go with the more extended plan. The life insurance premiums will be more expensive each month but could result in cost savings over three decades compared to picking a shorter option.

What does 20-year term life insurance mean?

A 20-year term life insurance policy provides coverage for a specific period of 20 years. If the insured passes away within this timeframe, their beneficiaries receive a death benefit. However, if the policyholder outlives the term, the coverage ends, and they typically don’t receive any cash value.

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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