TERM 20 LIFE INSURANCE QUOTES, RATES, AND EXPERT TIPS

Name: *
Phone: *
Email:
Birth Date:
Location: *
Coverage: 
Comment:
* Please Confirm Your Contact Details Are Correct

Want to find out more about 20 year term life insurance?


Why Choose LSM Insurance For Term Life Insurance

  • We work with experienced and reputable independent brokers across Canada
  • LSM Insurance is one of the most respected life insurance brokerages in Canada
  • We work with more life insurance companies than the majority of brokers (15+ insurers)
  • We have been serving Canadians for over 25 years

LSM Insurance is accredited by:


Customer testimonials

 
Dags Marasigan:

“… Jack Bendahan of LSM Insurance facilitated two insurance policies… Jack will not stop being a professional insurance/financial advisor as soon as he closed his own deal(s). He will see to it that he will be there for any assistance…”

 
Leigh-Ann Rousom:

“… We want to thank you for the excellent customer service and value of your products. We are particularly happy with YOU as our provider. …”

 
Bob Redinger:

“… If you are considering purchasing any Financial or Insurance Product and Services, then there is only ONE provider that you should consider dealing with and that provider is: LSM Insurance.…”

 
Yang Yang and Anna Yang:

“…We were very pleased with the service provided by LSM Insurance. They were persistent without being pushy and helped us get a great plan at a great price..…”

Interested in term 20 life insurance or have questions?
Please complete the form above.

What is 20 year term life insurance?

Term 20 life insurance is a sub-category of Term life insurance. It covers a policyholder for a clearly defined term of 20 years (thus, it is called Term 20). Should a policy holder pass away within this time frame, his/her beneficiaries will receive the coverage amount. After 20 years, this policy comes to an end (coverage disappears). A picture below shows a sample premium structure.

If you want to extend a 20 year term life insurance policy, most likely, your insurance company will require you to get another quote. The new term life insurance policy will be typically more expensive because life insurance rates become higher as you get older (see an example below).

Interested in term 20 life insurance or have questions?
Please complete the form above.

When do you need 20 year level term life insurance?

20 year level term life insurance, or Term 20 Life Insurance, provides a coverage for 10 years only and is optimal in particular situations. Here are a few examples:

  • You want to make sure your kids are well off (if you pass away) until they are able to live on their own. It is important to mention that the Term 20 coverage in this case makes sense if your kids are less than 20 years away from being independent (e.g. if they are already 7 and you expect them to be fully independent when they are 25 years old).
  • You want clearly defined protection for 20 years to protect yourself and your family (e.g. while paying off a 20-year long mortgage).
  • You want to minimize your insurance premiums for the next 20 years while having life insurance coverage. Term 20 is one of the cheapest options that you can choose from. It is important, though, to know that these premiums may significantly increase when you renew your policy.

Interested in term 20 life insurance or have questions?

How does Term 20 Life Insurance compare to other life insurance products?

Here is a brief comparison of how 20 year term life insurance compares to whole life insurance and universal life insurance.

 

20 Year Term Life Insurance

Whole Life Insurance

Universal Life Insurance

Coverage length

20 year coverage

Life long

Life long

Insurance coverage

Yes

Yes

Yes

Cash accumulation

No

Yes

Yes

Can choose amounts going into insurance and cash accumulation

No

No

Yes

Pricing

Lower than Whole Life and Universal Life

More expensive than Term Life

More expensive than Term Life

 

Interested in term 20 life insurance or have questions?
Please complete the form above.

What are 20 year term life insurance quotes?

Below are a few examples of 20 year term life insurance rates/quotes. It is important to remember that any life insurance quote depends on multiple factors and may vary from person to person (e.g. based on your health condition).

20 Year Term Life Insurance quote

Male, 29 years old, 20 Year Life Insurance Term, Non-Smoker, coverage amount $250,000

Rate: $18 / month

20 Year Term Life Insurance quote

Female, 36 years old, 20 Year Life Insurance Term, Non-Smoker, coverage amount $400,000

Rate: $25 / month

20 Year Term Life Insurance quote

Female 47 years old, 20 Year Life Insurance Term, Non-Smoker, coverage amount $350,000

Rate: $31 / month

 

Interested in term 20 life insurance or have questions?
Please complete the form above.

20 year vs 30 year term life insurance

Below are a few examples of 10 and 20 year term life insurance quotes for $300,000 coverage. It is important to remember that any life insurance quote depends on multiple factors and may vary from person to person (e.g. based on your health condition).

 

20 Year Term Life Insurance rates

30 Year Term Life Insurance rates

Male, 25 years old, non-smoker

$21 / month

$28 / month

Female, 25 years old, non-smoker

$16 / month

$20 / month

Male, 40 years old, non-smoker

$34 / month

$61 / month

Female, 40 years old, non-smoker

$27 / month

$50 / month

 

Interested in term 20 life insurance or have questions?
Please complete the form above.

10 year vs 20 year term life insurance

Please find below a few examples of 10 and 20 year term life insurance quotes for $500,000 coverage. It is important to remember that any life insurance quote depends on multiple factors and may vary from person to person (e.g. based on health condition).

 

10 Year Term Life Insurance rates

20 Year Term Life Insurance rates

Male, 30 years old, non-smoker

$23 / month

$31 / month

Female, 30 years old, non-smoker

$17 / month

$23 / month

Male, 50 years old, non-smoker

$66 / month

$129 / month

Female, 50 years old, non-smoker

$45 / month

$84 / month

 

Interested in term 20 life insurance or have questions?
Please complete the form above.

20 Year Term Life Insurance No Medical Exam

Term 20, or 20 year term life no medical exam insurance, is a subset of no medical term life insurance. It is a version of life insurance that does not require medical tests (also called simplified issue life insurance). Some no medical life insurance types go even further and do not even require a medical questionnaire (also called guaranteed issue life insurance).

This is a great insurance choice for those who would not be approved for traditional (also called standard) life insurance, which comes with medical tests and a questionnaire to complete. Our insurance experts will help you with all of your no medical life insurance choices.

Interested in term 20 life insurance or have questions?
Please complete the form above.