Life brings countless changes, and with each step forward, your priorities shift. Whether you’re buying a home, preparing for college expenses, or ensuring a lasting financial legacy, 30-year term life insurance from SBLI can offer the security and peace of mind you seek. This policy is crafted to provide affordable, dependable protection over three decades, allowing you to safeguard your loved ones and support your long-term goals.
What is 30-year term life insurance?
30-year term life insurance often has the longest coverage period available in life insurance products, and it is an affordable way to ensure financial protection for your loved ones and simplify long-term financial planning.
Key Features:
- Fixed premiums: Your term life insurance premiums will be the same throughout the 30-year duration of your policy. This predictability offers peace of mind when budgeting, with no surprise increases.
- Guaranteed coverage: Death benefits are guaranteed to your beneficiaries if something happens to you during the 30-year coverage period.
- Affordability: Term life insurance is generally more affordable than whole life insurance. 30-year term life insurance reduces the likelihood of expensive renewal rates as you get older all while assuring that your family is protected even after your children reach adulthood.
- Flexibility: When your 30-year term life policy terminates, you can renew your policy in some cases. You can also find a new policy or convert to whole life insurance.
Who Should Get a 30-Year Term Life Insurance Policy?
A 30-year term life insurance policy is an excellent option for providing affordable and long-lasting financial protection for your family in case of unforeseen events. Here are some examples of situations where a 30-year policy might be a smart choice:
Homeowners with long-term mortgages
Many homeowners choose 30-year term life insurance to match their mortgage length, ensuring the loan can be paid off if they pass away. Unlike mortgage life insurance, 30-year term life coverage isn’t tied to your home; it provides flexibility if you sell, rent, or foreclose. Beneficiaries receive the payout directly, allowing them to cover the mortgage, funeral costs, debts, or other needs.
Young families and new parents
30-year term life insurance is ideal for young families, new parents, and couples who plan to become parents in the near future. Additionally, 30-year term life insurance provides financial protection for families that require more enhanced coverage, such as parents of special needs children, single parents, large families, and families with significant age gaps between spouses or children.
Business owners with long-term financial obligations
Business owners frequently need to take on long-term debts to fund startup and expansion phases. In the event of the unexpected, 30-year term life insurance ensures that your successors can pay off debts and keep your legacy operational.
Curious about the right amount of life insurance to safeguard what’s most important to you? Let’s figure it out together.
Can you renew or convert a 30-year term life insurance policy?
When your 30-year term ends, your life insurance policy becomes renewable annually, with premiums based on your age at the time. If you choose to continue coverage, you’ll receive a bill for the updated premium.
It’s important to reassess your personal and professional situations as the end of your term approaches, since your coverage needs may have changed over the 30 years.
Good to know: Because of its long duration, many people choose a 30-year term life insurance policy for flexibility, without necessarily planning to renew it annually after it expires. You may also have the option to convert to whole life insurance in some cases or explore a new policy that better fits your current needs, such as a shorter-term plan.
How to convert 30-year term life insurance to whole life insurance
- Check your policy for the timeframe in which you can convert. With SBLI term life insurance, you have the flexibility to convert your policy to whole life or Conversion Universal Life (UL) before age 70 or the end of your term. This means you can switch to a permanent policy without needing to re-qualify for coverage, giving you long-term protection if your needs change over time.
- If you are able to convert your policy, simply contact your SBLI agent to start the conversation. Your agent will help guide you through the process.
Explore 30-year term life insurance policies from SBLI
At SBLI, we know that life insurance is about more than just finances—it’s about ensuring your loved ones’ future security and peace of mind. Our 30-year term life insurance provides dependable, affordable coverage designed to grow with you through life’s stages.
Ready to get started? Get your term life insurance quote today, and you can also speak to one of our licensed agents by calling 800-650-4391.
SBLI Term Life Insurance policy form series B-56.
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