25 year term life covers you for 25 years at one fixed price. It usually fits parents who plan more kids, or people with a long home loan who want a little less cost than 30 years.
A 25 year plan covers a newborn to age 18 with 7 years to spare. It also covers most of a 30 year home loan.
Fewer insurers list a 25 year term. Banner Life does. It sells it up to age 60 for non tobacco users.
Who can buy it
Banner Life OPTerm: ages 20 to 60 non tobacco, 20 to 55 tobacco (outside New York). William Penn (New York only): ages 20 to 58 non tobacco, 20 to 55 tobacco.
What happens when it ends
When the term ends, your cover stops unless you act. NAIC says most term plans can be renewed at the end, even if your health changed, but the new price is higher. Western and Southern says some plans renew one year at a time, and the price goes up each time. Banner says its rates rise every year after the level term, up to age 95. Many plans also let you convert to permanent cover with no new health checks. The price is based on your age when you convert.
Other term lengths
Common questions
Do all insurers sell 25 years?
No. Fewer list it than 10, 20 or 30 years. Banner Life is one that does.
Who fits 25 years?
People with young kids who might have more, or a long loan with about 25 years left.
What is the oldest age to buy 25 years?
At Banner, 60 for non tobacco users and 55 for tobacco users.
