Financial wellness for everyone: Term life insurance
Life insurance serves a bigger purpose than helping to pay for funeral and burial expenses — it helps you leave a legacy by protecting your loved ones financially after you are gone. Term life insurance can be a simple and affordable way to do that.
Eight in 10 Americans are concerned about being financially prepared in the event of a premature death, yet almost 3 in 10, or 74 million people, don’t own life insurance.1
If you think getting term life insurance is too overwhelming to tackle, it may help to know the process is more straightforward than you think. With a little foundational knowledge, the process can be easy and incredibly worthwhile for your long‑term financial security and the well‑being of those you care about. Here are a few basics to help you get started.
What is term life insurance?
Term life insurance refers to an insurance policy that is good for a fixed amount of time, such as 10, 20, or 30 years (the “term”). Should you die within this term, your beneficiaries will receive the amount designated by your policy. Because this coverage period is a shorter, more defined time than other kinds of life insurance , term life policies tend to be less expensive.
The flexibility of term life insurance allows you to choose both the length and the amount of coverage, while helping create financial confidence for your family. And this financial support can also extend beyond your loved ones. Guardian offers a unique charitable benefit rider that lets you select a charity or nonprofit to receive a bonus amount in addition to what is paid to your beneficiaries.2
How much life insurance is enough?
According to Guardian's research, 51% of working adults whose spouse or partner passed away prematurely indicated that they were not financially prepared for the loss of their loved one.3 If you have a partner, talk with them about what one of you would need in case something happened to the other. What kind of resources would your family need if they lost either of your contributions?
All families’ finances are unique. I can work with you to look at your future earnings and savings potential and fine-tune your strategy according to your specific situation. Together, we can create a plan that’s tailored to your family’s unique needs.
How much does term life insurance cost?
Eighty percent of millennials overestimate the cost of life insurance, and 35% forego it because it’s perceived as “too expensive.” 4 But the cost of term life insurance varies based on different factors — age, gender, and lifestyle choices all impact the premium you end up paying. Generally, men pay a little more than women, and smokers pay more than nonsmokers. Yet within these variations, there are some broad cost estimates to know.
A 30-year-old female, nonsmoker, in good health can likely get $1 million in life insurance coverage for a 20-year term for around $48 per month. Her male counterpart may have to pay an additional $13 per month.5
When should I get term life insurance?
With most insurance products, the younger you are, the less expensive it can be. That said, it is never too late. Often people decide to purchase life insurance when they get married or have children, but you also don’t need to wait. You can assign anyone as your beneficiary, including parents, siblings, or another family member.
How do I set up a term life policy?
I can help you get started by discussing what the right amount of coverage could be, monthly premium costs, length of the term, and more. I can also talk with you about how term life insurance can serve as a tool within a broader, long-term financial plan for you and your family.
Everyone procrastinates on their to-do list from time to time, but putting off buying life insurance can lead to tough consequences in the event of an emergency. Nobody likes to think about it, but anything can happen at any time. The best way to protect your loved ones is to make your insurance plan now.
Disclaimer:
1 Prepared and Protected, Guardian’s 14th Annual Workplace Benefits Study, 2025
2 The Charitable Benefit rider is available on Guardian Level Term policies. Up to a maximum of $100,000. Subject to state availability. Guardian Level Term is issued by The Guardian Insurance & Annuity Company, Inc. (GIAC), a Delaware corporation whose principal place of business is 10 Hudson Yards, New York, NY 10001. 1 888 GUARDIAN (1 888 482 7342). Policy form numbers: GLT 10, 15, 20, 30: 20-GLT Charitable Benefit Rider: 20-CBR GIAC.
3 Prepared and Protected, Guardian’s 14th Annual Workplace Benefits Study, 2025
4 Ibid.
5 Term life insurance rates for 2025, Guardian, January 29, 2026
“Financial advisor”/“advisor” is used generally to describe insurance/annuity and investment sales and advisory professionals who may hold varied licensing as insurance agents, registered representatives of broker-dealers, and investment advisory representatives (IAR) of registered investment advisors, respectively. Only those representatives who use advisor in their title or otherwise disclose their status and meet the necessary licensing or registration requirements provide investment advisory services.
Material discussed is meant for general informational purposes only and is not to be construed as a recommendation or advice. Please note that individual situations can vary therefore; the information should be relied upon only when coordinated with individual professional advice.
Brought to you by The Guardian Network © 2026. The Guardian Life Insurance Company of America®, New York, NY.
Material discussed is meant for general informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice.
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