Term Life Insurance FAQ
COVERAGE NEEDS
Q. How long are life insurance premiums guaranteed to stay
the same?
A. It depends on the length of term you select. At Matrix
Direct, you can lock in coverage for as long as 20, or even
30 years, depending on the carrier. You can also choose shorter
terms, such as 10 years. The life insurance premium you pay
is set for the duration of the term you choose — it
doesn’t go up or down — and the benefit amount
stays the same too. People starting out often choose longer
terms, because term life insurance premiums are typically
less expensive while they are younger and in good health,
and they find they can get “more for less” —
more coverage for less money. Some people prefer shorter terms
to suit their financial plan, or to allow flexibility as their
life changes.
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