03/26/2026
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What exactly is term life insurance? And how does it work?
Term life insurance is an affordable way to provide your loved ones (or other beneficiaries) with financial protection if you pass away during the term of the policy. Term policies are available for 10, 15, 20 or 30 years.
What are the benefits of term life insurance?
A lot of people find peace of mind in this lower-cost life insurance. It’s a good feeling to know that even if you pass away, your loved ones will have the money they need to cover:
• Mortgage or rent
• Education
• Medical bills
• Funeral costs
• Lost income
• Other expenses
In some cases, your coverage can last even longer than the term you chose. You usually have the option to extend your coverage beyond the initial term, which means annually increasing premiums. Or, if eligible you can convert your term life insurance to permanent life insurance before your policy expires, which provides life-long coverage at a higher premium.1
How does term life insurance work?
Whether you need a term life insurance policy for a short period of time or several decades, you choose the term that’s right for you:
10 years
Do you have older kids who still rely on your income? Are you retiring in less than 10 years? A 10-year term life insurance policy may be right for you.
15 years
If you have younger kids and still have some time before you retire, a 15-year term life insurance policy could help.
20 years
A popular choice for newlyweds and new parents as their family grows.
30 years
A 30-year term life insurance policy may be the right choice if you already have large, long-term financial commitments such as a home purchase or college debt.
And the coverage amounts are up to you! Choose an amount from $50,000 to more than $1 million – this is known as the death benefit. Keep scrolling to discover other ways to customize your policy.
Milestone moments
Throughout life, your priorities will change and can prompt an important discussion about life insurance. Here’s just a few of those situations:
• Marriage or divorce
• Birth or adoption of a child
• Starting a new job or switching careers
• Launching a new business
• Taking on a mortgage or other debt
• Co-signing someone else’s loan
Add-on features
In the life insurance world, we call these extra features “riders.” But we’re leaving the jargon behind and calling them what they are – add-ons, kind of like that side of sour cream you get for a small fee. Here are the features you can add to your term life insurance policy at an extra cost.
Child Term Life Insurance Rider
up to $50,000 of term life insurance for each of your kids ages 0-17. In addition to current coverage, it gives them the opportunity to convert the policy to whole life insurance age 23 without additional medical exams. This is a great way to help your children start to build a solid financial foundation.
Disability Waiver of Premium Rider
If you become disabled before age 65 and can’t work for a specific period of time, you won’t have to make premium payments to keep your life insurance policy active. It gives you one less thing to worry about when dealing with a serious illness or injury.
Accelerated Death Benefit Rider
This lets you access a portion of your policy’s death benefit while you’re still alive to help ease the financial burden that often comes with a terminal illness.2 If you die while your life insurance policy is active, the death benefit paid to your loved ones would be reduced by the amount you advanced. There is no additional cost for this feature.
Return of Premium Rider
Available for your 20 or 30-year term life insurance policy, this option gives you back the base annual premium payments you made and the cost you paid for the Return of Premium (ROP) add-on if you’re still living at the end of the term.3 If you’re hesitant to buy life insurance because you think you’ll outlive the coverage, adding ROP can provide funds for the future if you live past the term of the policy.
Insured Term Rider
Term life insurance is a good option if you only need coverage for a certain length of time, like while you’re raising kids or paying off a mortgage. With the COUNTRY Life Insurance Company Insured Term Rider option, you can essentially build your own coverage to help meet specific needs for the stage of life you’re in. For instance, if you passed away, the money from a life insurance death benefit could help ensure your family stays in their home. Or, it could help pay for your kid’s college expenses. This option can help align your coverage to when those life moments will occur.
Affordable life insurance
A term life policy is the least expensive way to buy a large amount of life insurance that stays with you for a certain amount of time – as long as you pay the premiums.
Term life insurance is more affordable than you may realize!
Buying life insurance
We know you have a busy life and filling out a lot of paperwork isn’t at the top of your list of fun things to do. That’s why we keep the life insurance application process as simple as possible.
Depending on your coverage needs and policy choice, you may even be able to skip the medical exam with our simplified or accelerated underwriting process! Ask your representative if you might qualify for a no-exam application.
