Main Menu Country: United States | English Secure Login Find a Financial Advisor Term life insurance This can be an affordable option, particularly for younger families. Term insurance is a pay-as-you-go life insurance option that covers a specific amount of time, typically 20 years or less. It can be an important financial tool in your younger years, when you have kids and are balancing saving for retirement or paying off debt. In the event of your unexpected death, term life could pay off your mortgage, student loans or other debt as well as cover ongoing and future needs for your family, like education costs. What you get Benefits are paid to your beneficiaries free of federal income taxes if you pass during the coverage period. Once the term ends, coverage ends – unless you purchase a new policy. What you can expect to pay Term life insurance premiums are based on your age and health. The younger and healthier you are, the lower your premiums can be. Coverage for a healthy 30-year-old costs an average of just $14 a month, or $160 a year.* That's an amount that can easily fit into most family budgets. How much you need An easy way to determine how much life insurance you need is to use L-I-F-E to calculate your liabilities, income, final expenses and education expenses. See the example below. L-I-F-E categories Liabilities (like your mortgage, car loans, student loans, credit card, etc.) Income needs for your family (after all debts are paid off) Final expenses Education expenses for your child or children Examples Mortgage: $150,000 Car loans: $20,000 Credit cards: $10,000 $24,000 for 10 years ($2,000 a month for living expenses) $15,000 $100,000 Life insurance amount needed: $500,000 Our life insurance calculator can help you calculate these needs. Why term life from Edward Jones Everyone's needs are different, which is why it's important to talk to someone who can look at your entire financial picture and savings goals, and help you figure out what's best for your situation. From term life to permanent insurance options, we offer a variety of plans that cover you now and in the future. Back to page content Explore more Your guide to choosing life insurance Life insurance calculator: How much do you... Is life insurance through work enough? Find a Financial Advisor Name or location (city, state or ZIP) Search Results Back to page content Important Information: *Source: 2020 Insurance Barometer Study, Life Happens and LIMRA. Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P. and in California, New Mexico, and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C. Market Data DJIA 34,899.34 (-905.04) S&P 500 4,594.62 (-106.84) NASDAQ 15,491.66 (-353.57) Disclosures News and Media Careers Resources for CPAs and Attorneys Client Relationship Summary Client Resource Center Follow us to stay up to date Feedback Privacy and Security Center Ad Choices Revenue Sharing (pdf) Accessibility Policy Copyright © 2021 Edward Jones. All rights reserved. Member SIPC. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. financial advisors. Edward Jones' U.S. financial advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.