❤️ Life Insurance
🎓 Education
20 Year Term Life Insurance
20-year term insurance is term life insurance that provides coverage for 20 years — and it’s the least expensive type of life insurance because it only covers 20 years instead of your whole lifetime. It can be used to provide financial protection to replace income, cover debt or college bills, and so much more.
Scott Karstens
Founder & CEO · Licensed since 2001
Published May 26, 2026
⏱️ 1 min read
Coverage Duration
20 Years
America’s most popular term length
Two Types of 20-Year Term Life Insurance
There are 2 types of 20-year term life insurance policies: a convertible and a non-convertible 20-year term.
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Non-Convertible 20-Year Term
When you buy a non-convertible 20-year plan, there are no options to renew the policy when it expires. You will have to qualify for and buy a new policy at that point.
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Convertible 20-Year Term
With a convertible 20-year term plan you have the option to convert your policy to a permanent life insurance plan during the ten-year duration of your policy.
Is 20-Year Term Insurance Right For You?
20-year term insurance is a good option for those who are in need of protection and want to keep it short-term or cover 20 years at a time without breaking the bank. In general, life insurance policies should last as long as your financial obligations do.
It’s useful to take a look at what financial priorities you are concerned about in the future to help determine if this is a good plan for you. For example, if you have 20 years left to pay on your mortgage, or if you are 45 years old and want to make sure you have a specific amount of coverage until age 65, a 20-year term policy provides the best value and matches the duration of your financial obligation.
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You may be a great fit for 10-year term if you…
✓ Have roughly 20 years remaining on your mortgage
✓ Are 45 years old and want coverage through age 65
✓ Have young children and want coverage through their college years
✓ Want more duration than a 10- or 15-year policy without whole life cost
✓ Are interested in a Return of Premium option at the end of the term
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What Riders Are Available on 20-Year Term?
Riders are optional, extra coverage that goes into effect along with your basic policy — often at an additional cost. They make your policies robust and broad, covering events that can happen while you are living.
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Accident Only Disability Income
Provides a monthly benefit while the insured is totally disabled, up to a maximum of two years. Benefits are payable only if total disability results from an accidental injury and begins within 180 days of that injury and prior to the insured’s 65th birthday. Benefits are not payable until after the insured has been continuously totally disabled for 90 days.
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Child Insurance Term Rider
Provides level-term insurance to age 25 on all children of the insured at the time of application who are age 15 days through 18 years. While the rider is in force, children born to or adopted by the insured who are age 15 days through 18 years will also be covered.
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Critical Illness Benefit
Provides a lump-sum benefit if the insured receives a first-ever diagnosis for one of the specified critical illnesses, including heart attack, invasive cancer, and stroke.
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Monthly Disability Income
Provides a monthly benefit while the insured is totally disabled, up to a maximum of two years. Benefits are payable only for total disabilities beginning before the insured’s 65th birthday and are not payable until after the insured has been continuously totally disabled for 90 days.
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Disability Waiver of Premium
Provides for waiver of all policy and rider premiums during an insured’s total disability occurring prior to their 60th birthday and lasting at least six months.
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Return of Premium Rider
20-Year Exclusive
With a Return of Premium rider, if you outlive your 20-year term policy, your premiums are returned to you. This optional add-on gives you the security of life insurance coverage with the added benefit of getting your money back if you never need to use it.
How Much Does 20-Year Term Life Insurance Cost?
Sample monthly rates for 20-year term life insurance at Preferred Plus (best) underwriting class in Colorado.
| Age |
Gender |
$100,000 |
$250,000 |
$500,000 |
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| 25 |
Female |
$8.96 Instant Decision!
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$12.62 Instant Decision!
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$19.14 Instant Decision!
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Quote Now!
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| Male |
$10.18 Instant Decision!
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$16.31 Instant Decision!
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$26.54 Instant Decision!
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| 35 |
Female |
$10.53 Instant Decision!
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$17.18 Instant Decision!
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$28.28 Instant Decision!
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Quote Now!
|
| Male |
$11.57 Instant Decision!
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$19.79 Instant Decision!
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$33.50 Instant Decision!
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| 45 |
Female |
$17.57 Instant Decision!
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$30.23 Instant Decision!
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$53.07 Instant Decision!
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Quote Now!
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| Male |
$21.92 Instant Decision!
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$38.93 Instant Decision!
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$67.86 Instant Decision!
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| 50 |
Female |
$26.54 Instant Decision!
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$48.50 Instant Decision!
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$83.96 Instant Decision!
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Quote Now!
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| Male |
$33.58 Instant Decision!
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$62.42 Instant Decision!
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$107.88 Instant Decision!
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| 55 |
Female |
$38.72 Instant Decision!
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$70.69 Instant Decision!
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$124.41 Instant Decision!
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| Male |
$51.68 Instant Decision!
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$95.48 Instant Decision!
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$168.35 Instant Decision!
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| 60 |
Female |
$61.68 Instant Decision!
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$115.06 Instant Decision!
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$202.71 Instant Decision!
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| Male |
$87.61 Instant Decision!
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$165.30 Instant Decision!
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$291.45 Instant Decision!
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| 65 |
Female |
$107.62 Instant Decision!
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$202.93 Instant Decision!
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$353.66 Instant Decision!
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Quote Now!
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| Male |
$141.03 Instant Decision!
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$268.18 Instant Decision!
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$467.19 Instant Decision!
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The above 20-year term life insurance rates are run for the Age & Gender shown, in the State of Colorado at Preferred Plus underwriting (best underwriting). These rates are not a valid offer — you will need to complete your own quote to view the initial rate for your situation, and the pre-qualification and application process will verify your rate.
Which Type of Insurance Is Right for You?
Everyone has their own needs, wants, and wishes for buying life insurance. Ultimately the best life insurance policy is the one that pays out to your beneficiaries when you need it to. Here are two of our most popular term life insurance products.
10-Year Term Life Insurance
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Low Premium Payments
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Level Premium for 10 Years
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Level Death Benefit
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Coverage for Shorter-Term Needs
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Able to Convert to Permanent Insurance
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Generally Provides a Tax-Free Death Benefit
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No Cash Value Accumulation
20-Year Term Life Insurance
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Low Premium Payments
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Level Premium for 20 Years
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Level Death Benefit
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Coverage for Longer-Term Needs
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Able to Convert to Permanent Insurance
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Generally Provides a Tax-Free Death Benefit
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Possible to Have Return of Premium
Why Work with Quote-Bot?
We simplify the insurance quoting and application process without sacrificing your freedom of choice. You see what an agent would see — there is no hidden information. Then you can make decisions on your own, apply, and receive an instant decision all in less than 10 minutes.
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Fast Quoting Process
Our quoting process takes about a minute to complete and view your quote. We also instantly update your quote with any changes you’d like to see — no need to start over.
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Instant Decision Underwriting
For many applicants, you can go from quote to completed purchase in less than 10 minutes. Our Instant Decision process keeps you from waiting around to see if you qualify.
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Solutions That Fit Your Needs
We provide high-quality, well-planned solutions no matter how big or small your need is — bringing you from concept to completed purchase in minutes.
Frequently Asked Questions
Can I talk to an agent?
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Our process and solutions are designed to help remove the need to talk with an agent. But yes, you can speak with an agent if you like. You can use the chat feature on this page or call and speak with an agent.
What happens if I miss a premium payment?
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Missing a premium is an important thing to know about, and thankfully there are programs in place to help notify you if you do. Typically you have around a 30-day grace period to make your payment. The insurance company will email you — and may send paper mail — notifying you of the payment issue with instructions on how to resolve it. If you do not make a payment during the grace period, you will have to go through underwriting again to keep your coverage.
Is a medical exam required?
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If you are age 18–50 and applying for up to $1,000,000 of death benefit, or ages 51–65 applying for up to $500,000 of death benefit, you may not need an exam. When you apply outside of those death benefit amounts or ages, you are required to have a medical exam — but we’ll help arrange that for you.
What is “Instant Decision” life insurance?
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Instant decision means we will let you know immediately — possibly up to 90 seconds — whether you are approved, whether we need more information, whether you were declined, or if you need an exam. No need to wait around very long for answers.
How long does the application take?
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Our Instant Decision process takes 10 minutes for most to complete. Some are faster, some are slower. The good news is that once you’re done with your application, we give you answers anywhere from instantly to up to a 90-second wait. It’s fast!
Do I need to talk with an agent?
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No. We strive to provide a solution that allows you to go from beginning to end in minutes without the need for speaking to an agent. Our process puts you in control of the entire experience.
