Term life insurance: buying to protect your loved ones


What is term life insurance?
Term life insurance is the most affordable life insurance option with coverage lasting a specific number of years, usually 10 to 40. During the coverage period, your payments will never increase. If you should pass away during this time, your loved ones will receive a tax-free lump-sum payment.
Coverage amounts range from $50,000 to millions of dollars and you are able to decide what coverage level feels right for you. The most common term lengths are:
- 10-year term life insurance
- 15-year term life insurance
- 20-year term life insurance
- 30-year term life insurance
Should you pass away during your coverage period, your insurer pays the death benefit, which is the entire coverage amount you chose, to your beneficiaries. It’s meant to help pay for funeral expenses, remaining debts, and other bills. But it also gives your loved ones financial stability and security, so their lifestyle doesn’t have to change.
Try our interactive calculator to compare quotes
Why should I buy term life insurance?
Term life insurance is critical for anyone who has loved ones that depend on them. Is your income essential to your family? Do you have kids or other people who depend on you financially? If so, term life insurance will protect them – even if you’re gone.
By purchasing term insurance, your unexpected death won’t have a negative financial impact on your loved ones. With the average cost of a full funeral being $6,971 to $7,848 and the fact that your debts don’t disappear after you die, the unfortunate reality is that death is expensive. And, it can put undue stress and strain on families during a time of immense grieving.
At Quotacy, we want to help you protect your family by eliminating financial stress during their time of grief. It’s why we always recommend that you buy term life insurance if you have loved ones that depend on you.

It’s Affordable

It’s Dependable

It’s Customizable
How does term life insurance work?
Term life insurance is financial security when it’s needed most. Once you start paying premiums on your policy, here’s how it works:
- Your policy is active for the coverage length you purchase as long as you pay your premiums.
- During this time you are insured against the case of your unexpected death.
- Beneficiaries file a claim and receive the death benefit payout.
- Your loved ones have one less thing to worry about during a difficult time.
How much does it cost?
When it comes to term life insurance costs, there isn’t a straightforward answer. There are several factors at play, including what coverage amount you need and whether you choose 10-year, 25-year, or 40-year terms, but here are some guidelines to keep in mind:
- The younger you are, the lower your premiums will be.
- Women tend to pay less because they live longer on average.
- Your health is a huge factor for price. For example, those who smoke cigarettes have higher rates. But don’t let that discourage you from making the best choice for your family. Our agents will help you find the best policy for your unique needs, even if you aren’t in “perfect” health.
- Overall, term life insurance costs less than you may expect.
How much coverage do I need?
Term insurance needs are different from person to person. The simplest way to find how much coverage you need is to use our term needs calculator. This helps you factor in your mortgage, credit card debt, college tuition for your children, and accumulated assets and savings, then gives guidance on how much insurance you should buy.
How to buy term life insurance
Buying term life insurance through Quotacy is straightforward and it takes just a couple of minutes to calculate your needs and get instant quotes personalized to you. Once you find a policy and price you like, apply online and your very own Quotacy agent will help answer any questions you have and advocate for you during the application process with the insurance carrier.
Here is what the process of buying term life insurance looks like with us:
- Get a free online term life insurance quote without sharing any sensitive information.
- Choose a policy you like and apply for term life insurance coverage online.
- Go through the buying process with your Quotacy agent guiding you.
- Accept your offer (or deny it, you have no obligation to accept).
- Start monthly, quarterly, or annual payments and you’re insured.
Ready? Buy term life insurance online through Quotacy today.
We believe that everyone who has loved ones who depend upon them should have life insurance. No exceptions. Start protecting those that matter the most and get a quote for term life insurance today.