Term Life Insurance Made Easy.

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Term life insurance policies can range from 10 years to 30 years typically.  It pays out a death benefit to your designated beneficiary if you die during the term but does not have any cash value while alive. 

It is generally much cheaper than whole life or universal life insurance and monthly premiums can range from as low as the teens for minimal coverage to in the hundreds for policies in the millions.

A healthy 35-year-old can expect to pay around $30/month for a $500,000, 20-year term policy typically.

The monthly premium cost will depend on the age of the person covered, the term (or length) of the policy, and the death-benefit dollar amount. The older the person and the higher the death benefit, typically the higher the cost. 

Anyone between the ages of 18 to 65 can opt for term insurance. Your 20s is a good time to get into the insurance market and plan for your family's future, especially if you're married or have had a child.