Get a term life insurance quote
Term life insurance is an affordable option. See how much coverage you may qualify for and what it could cost with a few basic questions. If you like what you see, we can help you take the next steps to being covered.
All fields are required unless marked optional.
Start by answering the questions above to see how much you may qualify for, what your insurance rates could be, and how to take the next steps. Or read on to find out more, including the benefits of term vs whole life coverage.
Typically the most cost-effective way to get a large death benefit.
Premiums stay the same for the length of your coverage term.
The death benefit is paid to beneficiaries as a lump sum, free of income taxes.
Amount of coverage
Generally speaking, the more people depend on your income, the more you’ll want to meet their needs in the event of an untimely death. And the younger you are, you’ll need more to compensate for the years of potential wage-earning ahead of you. One rule of thumb is to consider getting up to 30X your income between the ages of 18 and 40; 20X income at age 41-50; 15X income at age 51-60; and 10X income for age 61-65.
Length of term
Term policies typically last 10, 15, 20, or even 30 years. If you have children, a popular rule of thumb is to choose a term long enough to see them out of the house and through college. The longer the term, the more you’ll pay — but it usually pays to err on the side of getting a longer term policy than a shorter one: A person at age 30 will pay less overall for a 20-year policy than they would for two consecutive 10-year policies – because when they renew, they'll have to pay the rates of a 40-year-old.
How a term life insurance policy compares to whole life insurance
Term | Whole |
|---|---|
Temporary life insurance: After the term ends you have to apply for a new policy, usually at a higher cost, or go without coverage. | Permanent life insurance: The policy is designed to provide lifetime coverage, as long as premiums are paid.1 |
Premiums are usually level: They stay the same for the length of the term. | Premiums are level: They stay the same for life. |
Death benefit paid out income tax free — typically as a lump sum. | Death benefit paid out income tax-free — typically as a lump sum. |
Does not build cash value: When the term ends, there’s nothing left. | Builds cash value over time: Cash value can be accessed in various ways to help fund life’s needs.2,3 |
Less expensive for a given level of coverage — but premiums rise substantially at renewal, and coverage can be denied if your health declines. | More expensive for a given level of coverage — but premiums stay the same, and coverage is guaranteed for your entire life. |
May be convertible to a whole life policy | Can be cashed out if needed — for example, to help fund retirement. |
When do people get life insurance?
There’s no time like the present. A life insurance company will typically require a medical exam to assess your health — the younger and healthier you are, the lower your life insurance cost and the more life insurance options you'll have. But a lot of people wait until a significant life event to get coverage. Three of the biggest include:
Getting married
Expecting a baby
Buying a new home
1 All whole life insurance policy guarantees are subject to the timely payment of all required premiums and the claims-paying ability of the issuing insurance company. Policy loans and withdrawals affect the guarantees by reducing the policy’s death benefit and cash values.
2 Some whole life polices do not have cash values in the first two years of the policy and don’t pay a dividend until the policy’s third year. Talk to your financial representative and refer to your individual whole life policy illustration for more information.
3 Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by policy loans and loan interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding loans considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are treated like withdrawals, but as gain first, subject to ordinary income taxes. If the policy owner is under 59 ½, any taxable withdrawal may also be subject to a 10% federal tax penalty.
Quote Disclosures:
Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.
All life insurance policy guarantees are subject to the timely payment of all required premiums and the claims-paying ability of the issuing insurance company. While the information provided here may help inform your decision, we strongly encourage you to discuss your insurance needs with your broker or agent to ensure that you consider the optimal coverage for your circumstances. This is not a contract or an offer of coverage. This is a quote based on personal information that you’ve provided and describes certain features of a standard policy, which may vary by state. Coverage amounts and features shown on this quote may not be available to you. If a policy is issued, its provisions and pricing may differ from this proposal.
Guardian Level Term is issued by The Guardian Insurance & Annuity Company, Inc. (GIAC), a Delaware corporation whose principal place of business is 10 Hudson Yards, New York, NY 10001. 1 888 GUARDIAN (1 888 482 7342).