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Term Life Insurance For Women Explained

Term life insurance for women should be a priority in every household.

Term life insurance for women should be a priority in every household.

Term life insurance for women has a set period of time or term length. The most common term lengths are 10, 15, 20, 25, and 30 years.   There is no cash value in a term policy and it will expire.

I recommend Guaranteed Level Term (GLT) to my female clients.  This type of term life insurance for women guarantees the premium to be the same for the entire length of the chosen term (i.e. 10,15,20,25 or 30).  Basically, the premium rate is locked in for the entire term or otherwise referred to as the Guaranteed Level Term Period.

Key Points: Term Life Insurance For Women


  • Most affordable type of life insurance for women
  • Ideal for women that need large coverage amounts of 100k and higher
  • Covers a set period of time (i.e. 30 year mortgage or till a child turns 18 etc…)
  • No cash value built
  • Generally convertible (See below)

Term Life Insurance For Women Simplified

Term life insurance for women usually comes with an accelerated death benefit (ADB) rider that is free of charge.  An ADB rider comes into play if the person that is insured is diagnosed by a physician to be terminally ill and have less than 12 months to live.  The ADB rider would allow a portion of the death benefit (Or coverage amount)  to be released to the primary beneficiary prior to the passing of the one insured.  This money could be used for hospice care expenses, future funeral arrangements, or additional medical costs not covered by health insurance.

Term is generally convertible during the level term period (Before it expires) or prior to age 70….whichever comes first.  This simply means you do not need to medically qualify again and can convert your term policy into universal life (Explained below).

Term Life insurance is what the majority of our female clients secure because of its affordability and for larger coverage and/or death benefits.

4 Common Term Riders For Women

(These are optional, but NOT free)

  • Accidental Death Benefit Rider-  Additional death benefit on top of existing coverage if death was due to accident
  • Waiver of Premium Rider- Allows for a person to stop making premium payments on their policy if they were to become seriously ill or disabled
  • Return of Premium Rider– An option that allows you to receive all the premium you paid into a life insurance policy if you outlive the specified term length
  • Child Rider– Life coverage on a child for the length of the term policy that is typically available in increments of 1000, up to $10,000


3 Examples of Term Life Insurance For Women

Newly married with baby:

Their Story: A young couple that is newly married, just purchased a home, and expecting their first child.   They are just starting out in life and do not have a big budget to spend monthly on life insurance.  They realize the value and added protection an individual life policy would provide if God forbid the worst happened.  They both have very small policies through work, but not enough to cover for the unexpected.  It would take them forever to set aside and save the kind of money they would need to pay off the mortgage, replace their incomes, and support a child for at least the next 18 years.

Their Solution: They decide to take out 20 year term life insurance policies for $750,000 on each of them.  They are both 25 years old.  Her policy runs around $24.00 a month and his policy is about $28 a month.  The premiums fits easily in their budget and the instant protection they need is in place!

Stay at home mom with 4 children:

Her Story: A married mother of  four children, age 39, realizes that her husband is adequately covered with enough life insurance, but she has none!  Her husband is a 40 year old commercial airline pilot and is often gone for days at a time.  Their children range in age from 4-15 years old.   Her husband would need to hire a full time live in nanny and housekeeper if the unthinkable were to happen to her.   To employ this kind of help would cost close too $850 per week (According to www.nannies4hire.com). That is 44,200 per year and over the next 14 years (Till the youngest is 18) that would be a total of $618,8000.

Her Solution: She decides to secure a $750,000 life insurance policy on herself for a 15 year term.  The cost for a very healthy, non-smoking female would be @ $29 a month for this exact policy.  A small price to pay for peace of mind that her children would be properly taken care of.

21 year old college student and her father

Their Story: 21 year old college student decides to take out a student loan to help pay for graduate school at a prestigious private school.  She was unable to qualify for the loan by herself.  In order to qualify, she had to ask his father to be co-signor on the loan.  Her father decides he needs to protect repayment of the loan in case anything should ever happen unexpectedly to his daughter. He just needs the protection for 10 years since this is the length on the loan.

Their Solution: They decide to take out an inexpensive 10 year term policy for $100,000 on her.  The father is the owner, payor, and the primary beneficiary on the term policy.   The policy gives him that added security after agreeing to co-sign for his daughter.  At $6 per month…you can’t beat it!

For more information about term life insurance for women or to get a  no obligation, hassle free quote…please feel free to give us a call at  (619) 933-0736.  We are happy to assist.

*Written by Ellen Edwards. InsureTheQueen.com and its representatives do not give medical, legal, or tax advice. Please consult your own physician, legal, or tax adviser.

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Ellen Edwards

Independent Life Insurance Agent at EM Insurance Services
Ellen Edwards is the owner of EM Insurance Services, an online life insurance agency. She is also the creator and lead blog writer of InsureTheQueen.com. You can find her on Google +, Twitter, and LinkedIn. Over the past 7 years, Ellen has successfully consulted individuals across the United States regarding their insurance needs. She is a proud single mom to two daughters and a son.

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