How Long Of A Life Insurance Term Do I Need? 
How long is your need ? That is how long of a term you should lock in your life insurance rate . If you need $ 50,000 to pay your funeral , settle up miscellaneous bills and leave a little for your adult children , then you had better have $ 50,000 in permanent insurance . If you have $ 250,000 left on your mortgage and another 20 years to pay it , taking out a 20 year Term policy of $ 250,000 makes sense . If you took out a loan to start a tattoo parlor and owe $ 100,000 that will be paid off in 10 years , you might want to take out a 10 year Term policy of $ 100,000 . Unless combining these policies into one helps you save some money , you can adjust your life insurance to fit your need . That is part of the beauty of it . 