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What is Term Life Insurance?

The term life insurance definition: Insurance that for a specific amount of time provides coverage. Generally, you can buy term life insurance for periods north of 5 years, and your policy is active until that period passes. Because term life insurance expires at the end of the period, term life insurance is much more affordable than whole or permanent life insurance.

Like auto insurance or homeowners insurance, it provides protection the beneficiaries in the case of an event or accident. In the case of term life insurance, it provides protection for the beneficiaries in the event unexpected death. Over the course of the term, you have fixed premiums that stay the same for the duration of the term. At the end of the term, insurance carriers can renew, change, or cancel your policy.

Often insurance companies renew, but the premiums increase drastically at the end of a period. Most individuals drop the coverage at this point because it’s so expensive. An example where this is not the case is when the insured is very ill and no longer able to qualify for a new life policy.

Like all Life Insurance, Term Life Insurance companies will pay the value of your policy tax-free to your designated beneficiaries in the event of your unplanned death.

Features of Term Life Insurance

  • Affordable
  • It turns pennies into dollars
  • Easy to understand
  • An alternative to whole life insurance
  • Serves as income replacement if you die to give your family the financial ability to cover expenses
  • Allows a policyholder to buy riders

In most cases, you can convert your term policy into a permanent one without a medical exam. It’s important to consider if there’s any possibility you’ll want to extend your coverage beyond the term. The conversion could be extremely valuable for you in the event your health declines.

Variations In Term Life Insurance

It’s not really “one size fits” all when it comes to term life insurance. You have some options. What type is best for you? Use our calculator and then have one of our concierge service represents help guide you through the process.

Need Assistance?

Talk to a concierge service representative today for free.

(844) 527-6771

Why trust Pride Life?

You should rely on whoever gives you the best guidance on insurance policies. It's up to you to decide. We challenge you to call our experts and put them to the test.


  • 5 star review  They made getting insurance with their company fairly easily. They assisted me whenever I needed it. Even to the smallest detail. I would recommend this insurance company to my family and friends.

    thumb Terry Murphy
  • 5 star review  I've had nothing but a helpful and wonderful experience with Pride Life. I ran into a couple difficulties while trying to get my insurance situated and was helped every step of the way. Everytime i called, the staff member over my case was knowledgeable and thorough in getting the problem solved and making sure my insurance was never lost. If i called and left a message, i was always had a return call from them in a timely fashion and all questions were answered, plus some. Highly recommended and proffessional. Thank you Darren and Danny for a pleasurable experience and the opportunity to have health insurance. You are a definite asset to the company. Once again, highly recommended!

    thumb Zachariah Long
  • 5 star review  As a medical case manager, I’ve enjoyed working with the staff at Pride Life. Everyone is humble, compassionate and empathic. Each staff displays enthusiasm, initiative and remarkable service. It is a pleasure to always work along side this impactful organization.

    thumb Justin Guy
  • 5 star review  Pride Life assist with enrolling MANY of my clients into marketplace policies for their health, dental and vision needs . They are very prompt and are excellent with choosing the right marketplace policy. I've been connected with them for about 2-3 years now. I'd definitely recommend! - Lee W.

    thumb Lee Wilson
  • 5 star review  Pride Life Ins was very helpful and prompt for getting life insurance for my friend. Thanks Mark for all your help.

    thumb j r