How long does approval take?

Traditional underwriting with a medical exam takes 3-4 weeks on average. No-exam 'Accelerated Underwriting' algorithms can approve healthy applicants in 24-48 hours.

Chicago family protected by term life insurance

Pennies for Dollars of Protection

Maximum Protection. Minimum Cost.

Lock in rates for 10, 20, or 30 years starting at just $20-$100/month (pricing varies based on age and a few other factors). Pure efficiency for young families and homeowners.

The Mortgage Safety Net

Chicago Housing Doesn't Wait

The Reality: Chicago's median home price exceeds $350,000. If the primary earner dies, that mortgage doesn't disappear—it becomes an immediate crisis. Term life insurance is designed to pay off that specific debt instantly so your family stays in their home.

A 30-year-old non-smoker can lock in $500,000 of coverage for around $25/month. That's less than your streaming subscriptions combined—but it protects everything your family has built.

Term Life Essentials

Locked Premiums (Rates Never Increase)
Tax-Free Death Benefit
10, 15, 20, 30 Year Terms
Living Benefits (Critical Illness Access)
Conversion Option (Upgrade Later)
No-Exam Options (Rapid Approval)

Get Your Free Term Quote

Structuring Your Policy

The Duration (Term Length)

Match the term to your "Dependency Period." If your youngest kid is 5, you need a 20-year term to get them through college. If your mortgage has 28 years left, buy a 30-year term. When the obligation ends, the coverage can too.

The Amount (Face Value)

The 10x Rule: We generally recommend 10-12x your annual income. This creates a "capital replacement" fund that generates interest to replace your lost paycheck. Earning $80k? Start with $800k-$1M in coverage.

The Speed (No-Exam Options)

Hate needles? We have access to "Accelerated Underwriting." Healthy clients under 50 can often get up to $2 Million in coverage without a physical exam or blood draw. Approval in 24-48 hours.

Pure Efficiency: Term life is the most cost-effective way to protect your family. You're buying pure protection—no savings component, no investment fees. Just dollars for pennies when your family needs it most.

Living Benefits (The Modern Upgrade)

Not Your Father's Term Policy

Old term policies only paid if you died. Modern policies include "Accelerated Benefit Riders." If you have a major heart attack, stroke, or cancer diagnosis, you can access up to 80% of the death benefit while you're still alive to pay medical bills, cover lost income, or fund experimental treatments.

Critical Illness

Heart attack, stroke, cancer—access funds when you need treatment most.

Chronic Illness

Long-term care needs? Tap benefits if you can't perform daily activities.

Terminal Diagnosis

12-24 months to live? Access most of your benefit immediately.

Often No Extra Cost

Many carriers include Living Benefits at no additional premium.

The Conversion Privilege

Your Safety Valve

In Illinois, most Term policies allow you to "Convert" to a permanent Whole Life policy without a new medical exam. This is vital if you get sick—develop diabetes, have a heart attack, or receive a cancer diagnosis—and become uninsurable later in life.

Why Conversion Matters

Health Changes: Diagnosed with something serious? Convert your term policy to permanent coverage using your original health rating—not your current health.
Lifetime Coverage: Term expires at 65-70. If you still need coverage, convert before the deadline to keep protection for life.
Cash Value: Converted Whole Life policies build cash value you can borrow against in retirement.
No New Application: Skip the medical questions, blood tests, and underwriting delays entirely.

Conversion Window

Timing Is Critical: Most carriers require you to convert before age 65 or within the first 10-20 years of the policy—whichever comes first. Don't wait until the last minute.

Partial Conversion: You don't have to convert the entire amount. Have a $1M term policy? Convert $100k to Whole Life for final expenses and let the rest expire.

Our Advice: We only recommend carriers with strong conversion options. Some cheap term policies have terrible conversion terms—we help you avoid those traps.

The Laddering Strategy

Save Money: Instead of one giant $1M policy, buy two $500k policies—one 10-year term and one 20-year term. As your kids grow up and debts drop off, the shorter policy expires, lowering your monthly bill while maintaining protection during the years you need it most.

Popular Rider Add-Ons

Return of Premium (Get Your Money Back)
Child Rider (Coverage for All Kids)
Disability Waiver (Premiums Paid If Disabled)
Accidental Death (Double Payout)

Example Ladder

Policy 1: $500,000 / 10-Year Term → Covers highest-debt years when kids are young.

Policy 2: $500,000 / 20-Year Term → Covers mortgage and college through graduation.

Result: $1M coverage for 10 years, then $500k for 10 more. You pay less than a single 20-year $1M policy.

Return of Premium (ROP)

Get Your Money Back If You Don't Die

Hate the idea of "wasting" money if you outlive your policy? A Return of Premium (ROP) Term policy costs more—typically 30-40% higher premiums—but if you outlive the 20 or 30 years, the carrier sends you a check for 100% of the premiums you paid.

Full Premium Refund Forced Savings Discipline 20 & 30-Year Terms Available

Is ROP Worth It? It depends on your investment discipline. If you'd actually invest the premium difference elsewhere, traditional term wins. If that extra money would just disappear into daily spending, ROP is forced savings with a death benefit attached. We'll run both scenarios for you.

ROP Example

30-Year Term: $500,000 coverage
Standard Premium: $45/month
ROP Premium: $65/month
Total Paid Over 30 Years: $23,400
Refund If You Outlive: $23,400

No-Exam Term Life

24-48 Hour Approval

Accelerated underwriting uses prescription databases and MIB records instead of blood tests. Healthy applicants get decisions in hours, not weeks.

Up to $2 Million

No needles, no nurses, no scheduling hassles. Healthy clients under 50 can often qualify for substantial coverage with just an online application.

Same Great Coverage

No-exam policies have the same benefits as traditional term: locked rates, living benefits, and conversion options. Just faster.

Term Life Questions

When your term expires, coverage simply stops—you don't get any money back (unless you purchased a Return of Premium rider). Most policies offer two options: renew annually at a significantly higher rate (often 10x or more), or exercise your conversion privilege to switch to permanent Whole Life coverage without a new medical exam. We recommend planning your conversion strategy before the term ends.

No. Life insurance death benefits are generally 100% income tax-free to the beneficiary under IRC Section 101(a). A $500,000 policy pays $500,000—your family keeps every dollar. The only exception is if the policy is part of a very large estate that exceeds federal estate tax exemptions, which doesn't apply to most Chicago families.

No. Once your term life policy is issued, your rate is locked for the entire term. Even if you're diagnosed with cancer next year, gain 100 pounds, or take up skydiving, the carrier cannot cancel your policy or raise your premiums. This is why we encourage people to lock in coverage while they're young and healthy—you're protecting your future insurability.

Traditional underwriting with a medical exam takes 3-4 weeks on average—scheduling the exam, waiting for lab results, and underwriter review. No-exam "Accelerated Underwriting" algorithms can approve healthy applicants in 24-48 hours. We'll help you choose the right path based on your coverage amount, health history, and timeline.

The standard guideline is 10-12x your annual income plus your mortgage balance. This creates a fund that can generate interest to replace your paycheck indefinitely. For example: $80,000 income × 10 = $800,000, plus $300,000 mortgage = $1.1 million in coverage. We'll calculate your specific number based on debts, childcare costs, and your spouse's earning potential.

Living Benefits (also called Accelerated Benefit Riders) allow you to access 50-80% of your death benefit while you're still alive if you're diagnosed with a qualifying critical, chronic, or terminal illness. This money can pay medical bills, cover lost income during treatment, or fund home modifications. Many modern term policies include these riders at no additional cost.

For most young families, term life is the right choice. It provides maximum coverage at minimum cost during the years when your family depends on your income most. The rule of thumb: "Buy term and invest the difference." However, some people add a small whole life policy for guaranteed final expenses. We'll help you determine the right mix for your situation.

The conversion option lets you switch your term policy to permanent whole life coverage without a new medical exam. This is crucial if your health declines during the term—you can lock in permanent coverage using your original health rating. Most policies require conversion before age 65 or within the first 10-20 years. We only recommend carriers with strong conversion terms.

Lock In Your Rate Today

Every year you wait, you're older and potentially less healthy—both increase costs. A healthy 30-year-old pays roughly half what a 40-year-old pays for identical coverage.

(224) 616-9430 Get Your Term Quote

Serving Chicago from 3945 W Devon Avenue

Chicago Term Life Insurance