What Is Short Term Life Insurance | The Definitive Guide For Dec 2024!

Discover what is short term life insurance and how much it costs in 2022. Learn how short term life insurance works and more.

By Licensed Agent:  Sa El PublishedApril 17, 2024  UpdatedJuly 2, 2024

It’s hard to look past the importance of life insurance.

However, it can be a challenge to find the time to get covered or try to figure out all the things surrounding life insurance.

But, there is something you can do about it:

In this post today, I am going to go over how temporary life insurance works, who should purchase it and how you can get short term life insurance quotes and coverage in under 5 minute

short term life insurance

How Much Does Short Term Life Insurance Cost?

Rates for short term life insurance are super affordable and your benefits are the same as with any traditional life insurance policy. You can use our custom quoter to check your rates for a 10 year term insurance policy.

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Short Term Life Is Another Name For Temporary Life Insurance

You might not know this, but temporary life insurance is also known as short term life insurance.

It was given these names because of how long the policy will stay in force. Until recently, there had been only two types of short term life insurance.  Now, the shortest term you can usually obtain is 10 years.

10 Year Term

This is the longest of the short term options; however, you will find that most companies are bypassing this option and going straight to the 10 year term life insurance with no exam policy.

LIFE INSURANCE WHERE YOU LIVE

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With a Life Insurance policy you can take care of your family the right way.

Should anything happen to you, you’ll want to leave your loved ones a financial nest egg for their wellbeing. Click on your state to find out more.

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Who Needs Short Term Life Insurance? 

Someone Who Procrastinates

You know you need to take action but you just don’t seem to be able to pull the trigger because you know there will always be time to complete the process. 

This is the best product for you because it takes less than 5 minutes to get some quick coverage in-force, you don’t have to think about it.

Afraid of Committing

If you are afraid of choosing a policy amount without knowing what the future could hold, then this policy is great for you.

It really gets rid of you being afraid that you won’t have enough coverage or that you are getting locked into the wrong plan.

A Freelancer, Side Hustler, and Entrepreneur

If you are doing any of the above professions, then you need life insurance, but you probably don’t need as much coverage today that you will need tomorrow.

Maybe you want to test out your business idea for a few years or see how freelancing works, this is the best reason to start a 2 year term life policy.

In The Middle Of A Life Event

If you are switching careers, having a baby, getting married, or just in-between jobs, a short-term life insurance policy is probably your best option.

It gives you the ability to stay covered until things settle down and you know which direction you are going in.

Sample Short Term Life Insurance Quotes For Men & Women

*Rates are based on a 33 year old female and male in preferred health non-tobacco for a 2 year term

Short Term Is Better Than No Coverage At All

Purchasing a short term life insurance policy is all about giving yourself some breathing room to take out the time to better understand your life situation.Just think about it, why go uninsured just because you need to figure out future plans. If you plan on buying a home or renting, will you be going back to school or even having kids or starting a business? You need to have all of these things in mind when it comes to determining the amount of life insurance you will need. While you figure these things out, it’s an excellent idea to get some coverage started.This is what makes the 2 year term policy such a great option.And it gets better: You can apply for another short term policy if your current one ends or go ahead and purchase the long term coverage you need.

The Best Company For Short Term Life Insurance

While there are some excellent no exam term life insurance companies to choose from, we haven’t found any better than Bestow, Lemonade, and Haven Life.

Check out our quick overview of them below:

THE SIMPLY INSURANCE WAY

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Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

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Coverage in minutes.

You can get no exam life insurance coverage within minutes of getting your quotes and applying.

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Taking Action

Now that you understand what short term life insurance is and how it works, it’s time to take action! 

You can get quick quotes and buy your policy fast by clicking here or on any of the buttons above. It’s great that you know you need some temporary life insurance, now it’s time to get to it.


ABOUT THE AUTHOR

Sa El

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 16 years of experience in the industry. He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.