25 year term life insurance is a type of policy that offers guaranteed level premiums for a 25 year term duration.
After the initial term has expired, the premiums will increase mightily, so if you need coverage longer, you might consider a 30 year term or guaranteed universal life contract as an alternative.
Interesting Fact… Who Sells 25 Year Term Life Insurance???
Very few. I represent dozens of life insurance companies, and many of the large carriers do NOT offer a 25 year term option, such as Genworth, Prudential, and Met Life. All of the above offer 20 or 30 year policies, but not 25.
The companies who do offer a 25 year term policy are:
- Savings Bank Life – the product name is “25 Year Term Guaranteed 25″
- American General – Product name is “Select-A-Term 25″
- ReliaStar/ING – Product name is “TermSmart 25″
- Transamerica – “TransTerm UL 25″. Note: this is a term/universal life hybrid, which means at the end of the 25 year initial term, the policy automatically “converts” (you might say) to the underlying universal life policy structure on which it is built.
- Protective Life – Product’s name is “Secure T 25 Year No Lapse UL”, and the same note applies here as to the TransTerm UL 25 above.
… and there may be a few more, but I don’t represent them.
Cost of a 25 Year Term Policy
As for cost, it will probably cost a bit more than 20 year term life insurance and a bit less than 30 year term. You can quickly get a quote using our form on the right. We have dozens of companies to compare, so you can be sure you’ll find the most competitive rate.
Be Careful! — Fewer Options means Less Competition
One word of advice. If you have any type of health history or any other risk factors such as hazardous occupation, travels, or hobbies, a history of drug or alcohol abuse, or mental health disorder such as PTSD, bipolar disorder, anxiety/depression, be very careful about being narrow minded about “having to have” a 25 year term life insurance policy.
Remember that since only a handful of companies offer it, you may be shooting yourself in the foot by only having these companies to apply to. It’s very possible that a different company (such as Prudential, Genworth, or Met Life) would offer you a lower rate class than the companies offering 25 year term.
That could mean that for the same price or lower, you could purchase a 30 year term policy instead. Keep your options open and be sure to speak with a knowledgeable agent about your needs, as well as your health history.
We at Huntley Wealth Insurance are also happy to help with how to buy 25 year term insurance if you call us at 877-996-9383.
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