We work only with insurance companies rated A or better by AM Best.
Term life insurance covers you for a set number of years, from 10 to 35 years, depending on the insurance company. If you pass away during that time, it pays the people you name a lump sum, generally free of income tax, to help with the mortgage, bills, child care, or college.
CBIS is a family-owned independent agency, so we compare term policies from many insurance companies instead of just one. We’re based in Santee, serving San Diego County, and helping people across California by phone or video.
Already have a policy? We’ll review any life insurance policy you have, free, and tell you honestly if it still fits. Get a free policy review →
Term Life Basics
Four things to know before you pick a policy.
You pick the length
Many people match the term to their longest money responsibility, like the years left on a mortgage or until the youngest child finishes school.
You pick the amount
This is the death benefit: the lump sum paid to the people you name, called your beneficiaries.
Your payment is set at the start
On a level term policy, what you pay each month stays the same for the whole term.
Coverage ends when the term ends
Some policies let you keep going year to year at a much higher cost, and many let you switch to lifelong coverage within set time limits.
Choosing Your Term and Amount
A simple way to size your coverage, plus one feature worth asking about before you buy.
How much coverage?
- Add up what your family would need if your income stopped: years of living costs, the mortgage and other debts, and future costs like college.
- Subtract savings and any coverage you already have, such as a policy through work.
Good to know: we’ll walk through the numbers with you, so you don’t have to guess.
How many years?
- Terms usually run from 10 to 35 years, depending on the insurance company.
- Some people combine two policies with different lengths, so coverage steps down as their needs shrink.
Good to know: the right length usually lines up with the year your biggest obligations end.
Conversion option
- Lets you switch some or all of your term coverage to lifelong coverage later, even if your health changes.
- Each policy sets its own deadline and rules for switching.
Good to know: we point out each policy’s conversion rules when we compare options.
Want coverage sized to your home loan? See mortgage protection insurance. Want the bigger picture first? Read our guide to the types of life insurance.
Term Life with Living Benefits
Help while you’re still here
Some term policies can include living benefits, an add-on that lets you use part of your coverage early if you’re diagnosed with a qualifying serious illness. That money can help with bills while you focus on treatment and recovery.
- Critical illnessSuch as a heart attack, stroke, or cancer, as the policy defines it
- Chronic illnessA long-term condition that makes tasks like bathing or dressing hard
- Terminal illnessA diagnosis with a limited life expectancy
Some term policies let you use part of your coverage early if you’re diagnosed with a qualifying serious illness, so a hard diagnosis doesn’t have to mean falling behind on bills while you’re still raising a family. Using a living benefit lowers what your loved ones receive later. Which illnesses qualify, how much you can use, and any cost vary by policy and state. Learn how living benefits work
Learn more about living benefits →
What Affects the Cost of Term Life?
Each insurance company sets its own prices, so the same person can get different offers. These are the main factors:
- Your age when you apply
- Your health and medical history
- Nicotine use, including vaping
- The coverage amount you choose
- How many years the term lasts
- Family health history and, with some companies, your driving record
Longer terms and larger amounts cost more each month, and prices rise with age, so applying at a younger age usually means a lower price.
Is Term Life a Good Fit for You?
Term life often makes sense when what you need to cover has an end date. It may fit if:
- You just had a baby or have kids still years from finishing school
- One partner stays home with the kids, and the household runs on one paycheck
- You have a mortgage and want your family to be able to stay in the home
- Your coverage through work may not be enough, or could end if you change jobs
Not sure how long or how much?
A licensed CBIS agent can run the numbers with you in plain words, with no pressure.
How to Get Term Life Insurance
No payment required to apply.
You pay nothing until you accept an offer.
- ApplyA licensed CBIS agent helps you fill out a short application by phone or video call.
- The insurance company reviews your applicationThey look at your health and history. Some term policies need a quick medical exam, and we’ll tell you before you apply.
- Get your offerIf you’re approved, the insurance company shows you the price for your coverage.
- Make it fit your budgetChange the coverage amount or the number of years until the monthly cost fits your budget.
- Accept, then payYou pay only after you accept the offer. Nothing is due up front.
Want more detail on each step? See the full steps on our quote page.
Term Life Insurance Questions
What happens when my term life policy ends?
The coverage stops, and nothing is paid after the end date. Depending on the policy, you may be able to renew year to year at a higher cost, switch to lifelong coverage, or apply for a new policy. We’ll go over your options before the end date so you aren’t caught without coverage.
Can I turn my term policy into permanent life insurance later?
Many term policies include a conversion option that lets you switch to lifelong coverage without new health questions. Each policy sets its own deadline and rules for switching, so it’s worth checking those details before you buy. We’ll point them out when we compare policies.
How do I choose a term length?
Match the term to your longest need. If your mortgage has 25 years left, or your youngest child is a few years old, pick a term that covers those years. Terms usually run from 10 to 35 years, depending on the insurance company. Some people combine two policies with different lengths so their coverage drops as their needs drop.
Can I have more than one term life policy?
Yes. Many people have a policy through work plus one of their own, or two personal policies with different lengths. Insurance companies ask about your other coverage when you apply, and we’ll help make sure the total makes sense.
How fast can term life coverage start?
It depends on the insurance company and on you. For some applicants, some insurance companies can make a decision within days, with no medical exam. Others take a few weeks, especially if they need medical records or an exam. Your coverage starts once the policy is issued and your first payment is made.
Do I get my money back if I outlive my term policy?
Not with a standard term policy. You’re paying for protection during the term. Some insurance companies offer a “return of premium” version that refunds the payments you made if you outlive the term and kept the policy the whole time. It costs noticeably more each month, and the rules vary, so we can compare both side by side.
Do term life payments go up as I get older?
Not during the term on a level term policy. Your monthly cost is set when the policy starts and stays the same until the term ends. After that, if the policy lets you keep it year to year, the cost usually goes up every year, often by a lot.
Is a term life payout taxable?
In most cases, the lump sum your beneficiaries receive isn’t subject to federal income tax. There are exceptions, such as interest paid on a delayed payout or very large estates. For your own situation, check with a tax professional.
Let’s find the right term for you.
CBIS has helped families since 1982. A licensed agent will compare term policies with you by phone or video call.
Other questions? Contact us.