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If you’re in the market for life insurance, you might want to explore a 20-year term life insurance policy. It can help provide you with enhanced, temporary coverage for two decades, even if you experience changes in your health. Aflac offers a term life insurance policy with the option to choose 20 years that can help meet your financial needs and help give you added peace of mind. Here’s what you need to know about 20-year term life insurance and how it works.
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With 20-year term life insurance, you pay fixed premiums for 20 years. If you pass away during this period, your beneficiaries will collect a death benefit. They can use the death benefit to help cover funeral costs, mortgage payments, debts, everyday bills, and any other expenses they might have.1 The death benefit may help ease their financial burden and help them move forward with their lives after your passing.
Some noteworthy features and benefits of a 20-year term life insurance policy include:
Unlike whole life insurance, which can cover you for the rest of your life, 20-year term life insurance offers temporary coverage. This means that after 20 years, your policy will no longer be in force unless you renew it.
A 20-year term life insurance policy guarantees fixed premiums for 20 years, as long as premiums are paid. These fixed premiums can help make it easier for you to budget for your coverage in advance. You won’t have to worry about any sudden increases in your rate.
The death benefit that your beneficiaries will receive if you pass away during the 20-year period is flexible. They can use it to how they see fit. It can help with mortgage payments, settle debts, and other expenses.
Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.
Get StartedIf you’re interested in 20-year term life insurance from Aflac, follow these steps:
1. Determine the ideal coverage amount you need.
2. Request a quote online: Fill out a short questionnaire to receive a quote.
3. Wait for an Aflac representative to contact you: An Aflac representative will reach out to you to discuss your options right away or at a later time, depending on your preferences.
Once your 20-year policy comes to an end, you have a few options, such as:2
If at the end of the 20-year term, the policy has not lapsed and is still in force, the primary insured has the option to renew the policy on an annual basis. By going this route, you may not have to take another medical exam to continue coverage. However, note that your premiums will increase and continue to rise each year.
If you’d like lifetime coverage and wish to build cash value, you may be able to convert your term life insurance to permanent life insurance, subject to policy requirements. Keep in mind that you’ll likely have to pay higher premiums for this new policy, so buying a new term life plan may be more cost-effective.
In many cases, applying for a new life insurance policy from the same company or elsewhere can be a great option. You may be able to receive the coverage you need without overpaying. To get a new policy, you may need to take a new medical exam.
You might want to explore 20-year term life insurance if you fall into any of these categories:
If you’ve recently had a baby, a 20-year term life insurance policy is something to consider. Life insurance for parents can help ensure that your partner and child will be better protected financially in the event of your unexpected death.
In some scenarios, it’s a good idea to have 20-year life insurance during retirement. If you have many debts, children who are still dependent on you, or minimal retirement savings, this type of policy might be a smart choice.
Are you still paying a mortgage, car payments, credit card bills, and other debts? If so, a 20-year term life insurance policy may help your beneficiaries with these long-term debts if you pass away.3
Compared to other types of life insurance policies, 20-year term life insurance is simple. You pay a fixed premium for 20 years and your beneficiaries receive a death benefit if you pass away during that time. This term life policy is a solid option for those that don’t want to deal with complicated coverage.
Aflac offers an enhanced term life insurance policy with the 20-year option. With this type of policy, you can help protect your loved ones and help gain some much-needed peace of mind without breaking the bank. Get a quote today or talk with an Aflac agent about your options!
Get Started
Wondering what life insurance policy is best for you? Find out which type of life insurance can offer you the best coverage.
Considering getting a life insurance plan? Find out what a life insurance beneficiary is, how the process works, and who can change the beneficiary on your policy.
Wondering what life insurance policy is best for you? Find out which type of life insurance can offer you the best coverage.
Considering getting a life insurance plan? Find out what a life insurance beneficiary is, how the process works, and who can change the beneficiary on your policy.
1 U.S. News & World Report - What Is a Life Insurance Death Benefit? Updated January. https://www.usnews.com/insurance/life-insurance/what-is-a-life-insurance-death-benefit. Accessed March 12, 2026.
2 Experian - What Happens When Term Life Insurance Expires? Published July 24, 2025. https://www.experian.com/blogs/ask-experian/what-happens-when-term-life-insurance-expires/. Accessed March 12, 2026.
3 MoneyGeek - What Is Term Life Insurance and How Does It Work? Updated February 26, 2026. https://www.moneygeek.com/insurance/life/term-life-insurance/#do-you-need-it. Accessed March 12, 2026.
Coverage underwritten by American Family Life Assurance Company of Columbus. In New York, coverage is underwritten by American Family Life Assurance Company of New York.
Life: 68000 series, Term Life: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68200, A68300 & A68400. In New York, Policies NY68200, NY68300 and NY68400. B6000 series, Term Life: In Arkansas, Oklahoma, Pennsylvania, Texas & Virginia, Policies: ICC18B60200, ICC18B60300, & ICC18B60400. Not available in New York. Q6000 series, In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania & Texas, Policy ICC18Q60200M. In Delaware, Policy Q60200M. Not available in New York.
This is a brief product overview only. Coverage/plan options may not be available in all states, including but not limited to ID, NH, NJ, NM, NY, VA or VT. Benefits/premium rates may vary based on plan selected. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policies and riders for benefit details, definitions, limitations and exclusions. For availability and costs, please contact your local Aflac agent/producer.
Aflac | WWHQ | 1932 Wynnton Road | Columbus, GA 31999
Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
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