How to Pick the Right Term Length

Ten, twenty or thirty years? Match your policy length to the financial commitments it protects.

Think in finish lines

Each big obligation has an end date: the mortgage, the kids reaching independence, the day you plan to retire. Your term should last at least until the final one.

Using the mortgage as a guide

If 24 years remain on your home loan, a 25-year term covers it with a small margin. A 20-year term would leave the last four years uncovered.

Using the children as a guide

Count the years until your youngest can support themselves, often 20 to 25. A longer term may be worth the extra cost if children are very young.

Layering policies

Some families buy a large 10-year policy for peak years and a smaller 25-year one for the long tail. The combined cost can be lower than one long policy.

Do not overbuy

Cover past retirement rarely makes sense if your savings can look after a partner.

Test the cost

The Monthly Premium Estimator shows how much each extra decade adds, so you can see the price of a longer promise.

General information only, not financial or insurance advice.