Term life insurance is the most straightforward, affordable way to protect the people who depend on you. You choose a coverage amount and a term — commonly 10, 20, or 30 years — and if you pass away during that term, your beneficiaries receive the full death benefit, income-tax-free. There's no investment component and no cash value, which is exactly why it costs a fraction of permanent insurance and delivers the most protection per dollar during the years your family needs it most: while you're raising children, paying down a mortgage, and building toward retirement.
How term life works
| Element | What it means | How to choose |
|---|---|---|
| Death benefit | The payout to your beneficiaries | 10–15× income + debts (use our calculator) |
| Term length | How long coverage lasts | Match to years of dependency/mortgage |
| Premium | Your cost, usually level for the term | Lock in young — rates rise with age |
| Beneficiary | Who receives the payout | Name primary & contingent; keep updated |
| Conversion option | Right to convert to permanent later | Valuable flexibility — ask for it |
How much term life you need
A widely used starting point is 10 to 15 times your annual income, plus enough to pay off your mortgage and other debts and to fund big future goals like your children's education. But the right number is personal. Our life insurance calculator walks you through income replacement, debts, final expenses, and existing coverage to produce a tailored figure in a couple of minutes.
Illustrative monthly cost of a 20-year, $500,000 term policy
Term vs. whole life
Term life covers a set period at the lowest cost and is the right choice for most families' core protection. Whole (permanent) life never expires and builds cash value, but costs several times more for the same death benefit — it's best suited to lifelong dependents, estate planning, or specific business needs. Many families use a “buy term and invest the difference” approach, sometimes keeping a small permanent policy alongside a larger term policy. We'll show you both honestly and never push you toward the more expensive option for its own sake.
The application process
Applying is simpler than most people expect. After a short application, many carriers offer accelerated underwriting that skips the medical exam for qualifying applicants; others use a brief paramedical exam. Healthier applicants and younger ages qualify for the best rate classes, which is why locking in coverage sooner almost always saves money. We guide you to the carrier most likely to approve you quickly at the best class for your health.
Why buy term life through Maru
Life insurance is one of the few products where an independent agent's value is immediately measurable in dollars. We compare carriers to find the one that prices your health profile best, match your term and amount to your family's actual needs, and make sure your policy includes a conversion option so you keep flexibility as life changes — all at no additional cost to you.
Frequently asked questions
How much does term life insurance cost?
How much term life insurance do I need?
Should I choose term or whole life insurance?
Do I need a medical exam to get term life insurance?
What happens when my term expires?
Licensed independent insurance agent · WA & FL
Written and reviewed by a licensed Maru advisor. Maru Insurance is an independent agency (License #22261820) representing multiple A-rated carriers across Washington and Florida.
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