A 20-year term is popular among young parents, homeowners with long mortgages, and people who want peace of mind for at least two decades.
Why It's More Affordable Long-Term
Even though the monthly premium is higher than a 10-year term, a 20-year plan locks in your rate. If you wait 10 years and reapply, the new policy will be much more expensive because you’ll be older—and possibly dealing with new health issues.
Pros
✔ Stable premiums for 20 years
✔ Perfect for families raising kids
✔ Fits long-term financial responsibilities
✔ Often cheaper than buying two 10-year terms over time
Cons
✘ Higher monthly premium today
✘ Not necessary for people nearing retirement with fewer obligations
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