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Term life insurance

Affordable coverage for a specific period, helping to ensure your family’s financial security if anything happens to you during that time

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Or schedule a consultation to learn more about your options.

What is term life insurance?

Fast and easy enrollment

No medical exam is needed for 10- or 20-year coverage up to $1.5 million, and the process can be done completely online.

Coverage when you need it most

Get fixed-rate protection for when you have dependents and major financial obligations.

Income replacement for
loved ones

Your beneficiary will receive their lump-sum payout to help maintain quality of life if you pass away during the term.

Who needs term life insurance?

Anyone ages 21 to 55 can apply, but here’s who it will benefit most:

People with children

Homeowners with a mortgage

Case example

Let’s say you’re 35 years old with a partner and two children. Based on your needs, you purchase $1 million worth of coverage for a period of 20 years. You estimate that this amount of coverage would be enough to replace your income and allow your family to live a comfortable life. If you pass away at any point during the 20-year term, Nationwide would issue your beneficiary a lump-sum payment of $1 million. 

Read more term life examples

How much do I need? And what will it cost?

Use the coverage calculation guide to determine how much coverage you need,
then estimate your premium based on that coverage amount with the quoting tool.

How much coverage do I need?

Answer questions about your financial obligations to estimate the amount of coverage your family will need.

Coverage calculation guide

How much will my premium be?

Provide your birthdate, gender, height, weight and ZIP code to get an estimate on your monthly premium.

Quoting tool

Need more coverage or a longer term?

If you need over $1.5 million in coverage or up to a 30-year term with the ability to convert to a permanent plan, you should look into a Guaranteed Level Term policy.

Learn about Guaranteed Level Term
Get expert help to guide your decisions
Schedule a consultation or call us at 1-866-207-9160.
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More questions you may be asking
Expand all

When the term ends, your coverage stops. With Guaranteed Level Term, you have options to renew or convert to a permanent policy.

No. Your quoted price is an estimate based on your sex, age, BMI and tobacco usage. The final price may change after underwriting, which considers several factors, including your entire health history. 

No. Once your policy is active, your premiums stay the same throughout the term, even if you get sick.

Term life insurance covers you for a set period, such as 10, 20 or 30 years. If you pass away during this time, your beneficiaries will receive a death benefit. If you outlive the term, the coverage ends unless you renew or convert it.

It’s best to get it when you’re younger and healthier to lock in lower premiums.

Did you know?

Term life insurance can actually be affordable

Over half of Americans think the cost of a term life insurance policy is significantly higher than its actual cost.1

But you should lock it in now

Your premium amount increases, on average, about 8% to 10% for every year of age.2

94% of customers experience 5-star satisfaction

Read what customers on Trustpilot are saying about Nationwide Life Essentials℠ term life insurance.

5 out of 5 stars

“It was a fast and easy process. I was blown away by the prompt approval process.”

— Anna

5 out of 5 stars

“... After many attempts elsewhere, I realized it was due to misunderstanding application questions. Life Essentials reached out to clarify and promptly approved my policy.”

— Samuel

5 out of 5 stars

“So easy and quick. Competitive prices, and now I have peace of mind.”

— M.L.

5 out of 5 stars

“Loved the simple web portal— easy to navigate. The approval process was a breeze.”

— Preetha
Discover how affordable and easy it can be
Use our quoting tool to find out your premium and apply online.
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[1] Achieving life insurance success with middle-income Americans," Ayo Mseka, insurancenewsnet.com/innarticle/achieving-life-insurance-success-with-middle-income-americans (Aug. 20, 2024).

[2] Investopedia
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