What Is A 20 Year Term Life Insurance Policy?

  1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    A twenty year term life insurance policy is a life insurance policy will remain in effect for twenty years from the issue date if the insured does not pass away before the end of the twenty year term. Term life insurance policies are typically lower cost than other types of life insurance policies but are only active for a set period of time.
    Answered on September 30, 2013
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  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    A 20 year term life insurance policy usually: 1) has a set premium for 20 years, 2) has a set death benefit for 20 years, 3) has no cash value, and 4) will only pay the death benefit if the insured person passes away during that 20 year term.
    Answered on April 15, 2015
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