Finance, Insurance

When Should You Opt for 20 Year Term Insurance

If you are thinking of buying a life insurance and want an option where you can stay insured for few years, then a 20 year term life policy is the best you can opt for. This is because it offers low premium rates and also keeps you insured for 20 years of your life which is a considerable time of your life span. People can grow to immense heights in 20 years. However, it is important for everyone to understand why they must buy this term insurance.


If You Are Married

Married and have young children? Then a 20 year term insurance could be the greatest support. You can opt for the insurance take maximum benefits since once your children grow up, their growing needs will ask for more money. In such a time, you even if you wish to pay high premiums, you will not be able to do so because cost of studies of an adult child is ever increasing with time. Thus, make sure that you buy a term life policy and pay decent premium so that in case you die, the policy will support all the necessary expenses.

Your kids will get good education and there will be money to sustain basic needs. Thus, if you start with insurance policy today, tomorrow is ought to be better.

If You Are Still Single

Not married yet and earning a decent salary? It is time to buy a 20 year term life policy. You have no huge responsibility as of now and most often you spend a huge part of your salary on clubbing and outings with friends. Then you need to sit and think what you have done for your future. If you are intelligent enough, you might decrease the frequency of the outings (do not completely eliminate them as even they are essential part of life). In this way you will save more and afford to pay premiums towards your term insurance policy. This means that you just need to be calculative and you will soon start preparing for a happy future.

Burdens will be less when you start with a family and have children. Also, you will be able to live life with better standards. What can be better than this?

Professional with a Company

If you are working with a company, life insurance becomes even more important. This is because you do not have a alternate source of income. Do not ever think that you will buy term insurance in future when you will earn more. Because the time you will reach particular monthly incomes where you will decide to buy a policy, the premium rates will also have gone up. Companies consider age factor when they calculate premiums. So the right time is now.


A 20 year term life policy is also beneficial for businessmen since it can be used to pay off the loans and mortgages and keep the family business safe. Most businessmen opt for 20 year term insurance.

To know more about buying 20 year insurance, visit This can help in living life comfortably and with assurance of security for family.

If you have any questions, please ask below!