1. 0 POINTS
    David RacichPRO
    Fountain Hills, Arizona
    20 year term life insurance is a limited indemnification insurance product that protects the policy beneficiaries against the demise of the policy insured. Several 20 year term life insurance policies have conversion provisions in case you need to extend the time period to a permanent life insurance policy.
     
    Answered on July 1, 2013
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    A 20 year Term life insurance policy is one that will provide coverage for 20 years, presumably with the premium staying the same for the whole 20 years. You need to check the policy features to make sure your premium is guaranteed not to go up for the entire 20 years.

    When the 20 year Term is up, the policy will end or the premium will jump up extremely high and can go up yearly after that.
    Answered on July 2, 2013
  3. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    A 20 year term policy is a life insurance policy that has a level premium for 20 years. In other words your premium cannot change regardless of change in health, occupation, or residence. Be careful though, not all term policies are guaranteed level. You may cancel the policy at anytime. Therefore the risk is with the life insurance company. A term policy is primarily used to create an instant estate upon the sudden death of a income earner to replace income, payoff debt or fund a child's education fund. To avoid costly mistakes, you should seek the advice of an experienced broker.
    Answered on June 26, 2014
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