Term Life Insurance

Term life insurance is the simplest, most honest product in this industry. You pick a length of time — ten, twenty, thirty years — and a coverage amount. As long as you’re paying the premium, your family is protected for that span. No cash value, no moving parts. Just a promise that if you don’t make it home, your people are taken care of.

For most families with young kids, a mortgage, or an income the household depends on, term is where the conversation should start.

Why term makes sense for most young families

The reason is simple: during the years when your family needs you most, you need the largest possible coverage at a price you can actually afford. Term delivers that better than anything else on the market.

A healthy 35-year-old can often get a $750,000 to $1,000,000 30-year policy for less than a cell phone bill. That’s enough to pay off a mortgage, fund college for the kids, and leave your spouse breathing room to grieve without also panicking about rent.

What to think about before you buy

A few questions I walk every client through:

• How long until the people depending on you can stand on their own? That’s roughly your term length. If your youngest is 5 and you want coverage through college, 20 years. If you want to cover the mortgage and your kids through their early twenties, often 25–30.
• What would your family actually need? A common shortcut: 10–12× your annual income, plus your remaining mortgage, plus anticipated education costs. It sounds like a lot. It usually is.
• Is your coverage convertible? A good term policy lets you convert to permanent coverage later without a new medical exam. If your health changes, that option is worth a lot. I make sure convertibility is part of what we shop for.
• Are you layering? Instead of one big 30-year policy, some families are better off with a ladder — e.g., a 30-year for the mortgage plus a 20-year for the income-replacement piece — so the coverage drops off as obligations do. It can meaningfully lower lifetime cost.

Who term is right for

• New homeowners protecting a mortgage.
• Young parents protecting income during the child-raising years.
• Anyone with a specific obligation that has an end date — a business loan, a support agreement, a college runway.
• Families on a budget who want the most protection their premium dollars can buy.

Who term might not be enough for

• Families with a lifetime dependent (special-needs planning) — term runs out, the dependent doesn’t.
• People building a tax-advantaged cash-value asset on purpose.
• Anyone who wants guaranteed coverage for life, regardless of future health.

For most of these situations, the answer isn’t “skip term” — it’s “term plus a smaller permanent policy.”

The process, honestly

Applying for term is faster than it used to be. For many healthy applicants, we can often skip the paramedic exam entirely (accelerated underwriting) and get a decision in days. Otherwise, the medical exam is typically a home or office visit — blood pressure, basic labs, a few questions — and takes twenty minutes.

Start with a fifteen-minute call. I’ll ask what you’re trying to cover, shop multiple carriers for the best rate at your health class, and walk you through the options before you commit to anything.

— Jorge Galindo, founder of Covenant Life Group. Iraq War veteran. Licensed life insurance agent. More about Jorge →