Coverage for the years people count on your income.
Level, decreasing and convertible term life, compared across insurance companies, with the renewal and conversion terms read before you sign anything.
Quick answer Term life insurance is coverage that pays a death benefit only if the insured dies during a set term, such as one year, 10, 20 or 30 years, or to a stated age.
- If you outlive a term life policy, it pays nothing, and most term policies build no cash value.
- Level term life keeps the death benefit the same for the whole term, while decreasing term pays less as time goes on, usually dropping once a year.
- Renewable term life can continue for more terms even if your health has changed, at a higher premium each time.
- Convertible term life can be switched to permanent coverage without new proof of insurability, up to an age stated in the policy.
- In California, an individual life policy must allow a free look period of at least 10 days, and at least 30 days for seniors.
By Sam Alishahi · CA Insurance License #4348151 · Reviewed October 2026 · How this page is researched
A set number of years, a set benefit
A term policy pays its death benefit only if the insured dies during the term. The term can be as short as one year, a fixed stretch such as 10, 20 or 30 years, or run to a stated age. If you outlive it, the policy pays nothing, and most term policies build no cash value to fall back on.
The fine print that matters shows up later: whether you can renew without new health questions, what a renewal would cost, and whether you can convert to permanent coverage before a cutoff age. Many term policies also carry two premiums, a current one and a higher guaranteed maximum the company can move toward. I put those terms side by side for every company I quote.
- Level termThe death benefit stays the same for the whole term. It's what nearly everyone buys today.
- Decreasing termThe benefit shrinks as the years pass, usually stepping down once a year.
- Renewable termCan continue for more terms even if your health has changed, at a higher premium each time.
- Convertible termCan be switched to permanent coverage without new proof of insurability, up to a stated age.
What underwriters will ask
Having these ready means I can go to market on the first call. The quote form asks for the same things, and anything you don’t know yet can wait.
- Ages: the insured's date of birth, and the youngest child's age if the coverage is for the years the kids are home.
- Debts to clear: mortgage balance and years left, plus any other loans.
- Term length: 10, 15, 20, 25 or 30 years, or to a set age.
- Existing coverage: any policy through work and any individual policy, with amounts.
- Later plans: whether you might want permanent coverage down the road.
- Beneficiaries: who should receive the benefit. Insurance companies won't pay a minor child directly.
Term life, answered
What happens when a term life policy ends?
Coverage stops, and nothing is paid if the insured is still living. If the policy is renewable, you can usually continue it for another term without new health questions, but each renewal is priced for your older age, so the premium goes up. If it's convertible, you may be able to switch to permanent coverage before the deadline in the policy.
What is the difference between level and decreasing term?
Level term pays the same amount whenever death occurs during the term. Decreasing term pays less as time goes on, usually dropping once a year, which is why it's sometimes paired with a loan that's being paid down.
What does convertible term mean?
The owner can change the policy into permanent life insurance without new evidence of insurability. The permanent policy will likely cost more, and the right to convert usually ends at an age or date stated in the policy.
Is return of premium term worth it?
It refunds premiums if you outlive the term, but it typically costs significantly more, and you generally have to keep the policy in force for the full term or give up the refund. Some versions return only the base premium. I show the price difference so you can judge it.
Can the premium go up during the term?
Some term policies guarantee the premium won't rise during the term. Others charge a current premium the company can raise, up to a guaranteed maximum written into the policy. I check which kind each quote is.
Is there an age limit for term life?
Most companies won't sell a term that runs past the applicant's 80th birthday, so the longest terms go to younger applicants. Exact limits differ by company.
Can I return a term policy after I buy it?
Yes, during the free look period. In California an individual life policy must allow at least 10 days, and at least 30 days for seniors. Other states set their own periods, and the policy usually states it on the first page.
Do you offer term life insurance outside California?
Yes. Clients across the country send the same quote form. California policies are placed directly; outside California the request is handled together with a partner agency in your state, and the shopping across carriers works the same way. Rules, minimums and markets differ by state — see insurance requirements by state.
Tell me the years and the amount.
A rough amount and how many years you need it are enough to start. Health questions come later.
Alishahi Insurance · Saman Alishahi, independent insurance broker, California License #4348151. General information, not a quote or a promise of coverage; coverage depends on underwriting and the terms, conditions and exclusions of the policy actually issued.
Tell me how to reach you. I’ll take it from there.
Takes about 30 seconds. I review every request personally and call you back, usually the same day.
(424) 552-4545Answered 24/7 · CA License #4348151
Get a reminder before your renewal.
Tell me when your policy renews and I’ll email you about six weeks before, when it’s worth comparing. One email, no calls.