Discover 10-year term life insurance policies with $500,000 in coverage for as low as $13/month* with SelectQuote.

We’ll take the time to learn more about you and your loved one’s situation to help you decide what term length and coverage amount is right for you.
Agent Reviewed by Jon Reinemann | last reviewed March 2022

10-Year Term Life Insurance

As you begin shopping for life insurance, there are several factors to keep in mind. Cost, income, age, family size and current and future financial responsibilities all play a role in determining the right life insurance policy for you and your family. Let SelectQuote help you decide whether a 10-year term life insurance policy is the right fit for you.

What is 10-year term life insurance?

A 10-year term life insurance policy provides a financial safety net for 10 years once your policy is in effect. With term insurance, you can choose the term (or length) of your policy so you only buy it for as long as you need it. Term life insurance tends to be the most popular type of life insurance coverage, as it’s often the most affordable way to protect your family’s financial security.

In addition to being an affordable option, term life insurance tends to be more popular due to the simplicity of coverage that can also meet many, if not all, of your needs. One length option for term life insurance coverage is a 10-year policy, but other typical term lengths include 15, 20, 25 and 30 years.

At SelectQuote, we understand that everyone’s circumstances and needs are different when it comes to life insurance. That’s why we’re committed to helping you find the policy that’s the best fit for you. We can help you first decide between the two most popular types of life insurance— term life and permanent life insurance—but then we can also help you decide what term length and coverage amount are right for you and your family.

Who would benefit from a 10-year term life insurance policy?

A 10-year term life insurance policy may be best for people with older children or those who are planning to retire in the next decade. A longer term length, such as a 20- or 30-year term, would likely be more beneficial for a family with very young children. One of the main benefits of term life insurance is the variety of lengths available. Your family’s current and future financial obligations can help determine which term length is right for you.

Because life insurance policies should last the length of your longest financial obligation, it’s helpful to take a look at the financial priorities on your horizon. Generally, people who buy 10-year life insurance policies are in their 40s and 50s and their financial priorities often include:

Getting kids through college

Paying off a mortgage

Focusing on reaching retirement age and lifestyle

Are any of these included in your plans within the next 10 years? If so, a 10-year term life insurance policy could potentially be a good fit for you.

10-Year Term Life Insurance Cost

Term life insurance rates depend on individual factors that make up your “risk profile” from the perspective of life insurance companies. It’s common to assume that life insurance is expensive, but it can be surprisingly easy to find affordable term life insurance.

The younger and healthier you are, the more likely you’ll be able to find a lower 10-year term life insurance rate. For a 10-year term with $500,000 in coverage, you could pay as low as 43 cents a day.** Since the cost of life insurance increases every year as you age, the best time to buy life insurance is always right now.

We can help you find accurate coverage and term life insurance rate comparisons in just minutes from some of the most trusted life insurance companies in the nation. Let us help you determine if a 10-year term life insurance policy is the right fit for you.

Age / Sex$250,000 Coverage Amount$500,000 Coverage Amount$1M Coverage Amount
25 Years Old Female$8.61$11.22$15.78
25 Years Old Male$9.96$13.17$19.89
35 Years Old Female$9.31$12.62$19.93
35 Years Old Male$10.33$14.45$21.67
45 Years Old Female$16.29$25.46$41.17
45 Years Old Male$18.34$29.71$49.30
55 Years Old Female$29.97$53.26$96.83
55 Years Old Male$40.65$73.72$137.81
Table rates are based on 10-year, 15-year, 20-year, 25-year, and 30-year term policies for men and women in excellent health from one or more of the trusted companies we represent. Term rates were pulled on 12/2021. Your price could vary depending on your health, issuing company and other factors. Not available in all states.

How to Buy a 10-Year Term Life Insurance Policy

Once you’ve decided a 10-year term life insurance policy is the right amount of coverage for you, it’s time to buy. At SelectQuote, we not only make the shopping process easy, but the application and purchasing part, too. In simple terms, buying a 10-year policy through SelectQuote looks like:

  1. Get a free term life insurance quote from SelectQuote
  2. Choose the amount of term life insurance coverage that’s right for you
  3. Apply and buy a 10-year term life insurance policy with one of the trusted insurance carriers we work with

Ready to get started? Let SelectQuote shop 10-year term life insurance policies for you.

Thanks to SelectQuote, you don’t have to feel overwhelmed by the process of shopping for term life insurance. It’s important to compare term life insurance rates and coverage, and we can help you through the entire process. We work with some of the most trusted insurance companies in the industry, and we can return multiple term life insurance quotes to you in just minutes. Together, we can find the policy that meets your needs, goals and budget.

Compare Life Insurance Rates Now

Still unsure if a 10-year term life insurance policy is right for you? Check out our other life insurance options.

There is no shortage of options when it comes to term life insurance. If a 10-year term life insurance policy doesn’t seem like enough coverage, other typical term lengths include 15, 20, 25 and 30 years. We can help you figure out the term and policy that’s right for you.

15-Year Term Life

20-Year Term Life

25-Year Term Life