35-Year Term Life Insurance Policies In 2024

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Updated: 17 May 2024
Written by
Bob Phillips
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A 35-year term life insurance policy provides extended coverage that goes beyond the typical 20 or 30-year terms. If you’re in the prime of your life, this policy allows you to extend protection well into your retirement years.

By choosing this lengthier term, you’re acknowledging the importance of long-term security and demonstrating foresight in protecting your family from potential financial hardship.

As you navigate your way through understanding this product, remember that the value of a 35-year term policy lies in its ability to offer peace of mind. It’s about knowing that, no matter what happens, your loved ones won’t be burdened with severe financial problems.

Your decision to learn more about this policy could be one of the most significant financial safeguards you put in place for your family.

Key Takeaways

  • 35-year term life insurance is a cost-effective option for younger and middle-aged adults

  • Term life policies do not build cash value, making them less expensive

  • The average cost of a 35-year term policy is $26 per month

Term Life Insurance Explained

Term life insurance is a type of life insurance that provides coverage for a specific period or “term.” It’s designed to protect your beneficiaries if you pass away during this term.

The policyholder pays regular premiums, and in the event of their death within the policy term, the insurer pays out a death benefit to the designated beneficiaries. This payout can help cover living expenses, debts, educational costs, and more, mitigating financial hardship during an already challenging time.

The beauty of term insurance lies in its simplicity and affordability. Unlike other types of life insurance, it doesn’t come with cash value or investment components, which often makes it less expensive. Its primary purpose is to provide substantial death benefits at relatively lower premium costs, making it an appealing choice for young families or individuals on a budget.

While both term life and whole life insurance offer death benefits, their structure, cost, and additional benefits vary significantly. Here’s a comparison chart to help you understand these differences:

Feature Term Life Insurance Whole Life Insurance
Duration Fixed term (e.g., 10, 20, 35 years) Lifelong coverage
Cash Value No Yes
Premiums Generally lower Higher due to cash value component
Death Benefit Yes Yes
Investment Component No Yes

Whole life insurance provides lifelong coverage and has a cash value component that grows over time, functioning as a savings or investment vehicle. However, these additional features come at a higher cost, with premiums typically significantly higher than those for term life insurance.

How A 35-Year Term Life Insurance Policy Works

A 35-year term life insurance policy is a type of term insurance that provides coverage for a duration of 35 years. This policy works in a straightforward manner: you pay regular premiums, and if you pass away within this 35-year term, your insurer provides a death benefit to your designated beneficiaries.

This payout is tax-free and can be used by your beneficiaries to cover various expenses, from day-to-day living costs to mortgage payments or children’s education fees.

Choosing a 35-year term life policy over a 10 or 20-year term can offer extended peace of mind and financial security for your loved ones. Given that life’s uncertainties don’t operate on a fixed schedule, the extended coverage period ensures that your family’s financial needs will be met even if you’re no longer there to provide for them.

It’s particularly beneficial for younger individuals or couples planning a family, as it covers a substantial part of their working life, providing protection during critical years when financial obligations like mortgage payments and children’s education expenses are most significant.

While a 10 or 20-year term might seem sufficient now, think about the long-term picture. A 35-year term life insurance policy gives you the confidence of knowing you’ve done your utmost to secure your family’s future, regardless of what lies ahead.

What Does A 35-Year Term Policy Cover?

The scope of a 35-year term life insurance policy is quite broad and can be tailored to suit one’s individual needs. For instance, it can cover the years of a mortgage, ensuring that another borrower does not have to sell the house. It can also cover other specific debts that might become a burden to your family in the event of your death.

While a 35-year term policy provides broad coverage, it’s important to note what it doesn’t cover. For instance, if the policyholder outlives the term of the policy, there is no payout or cash value that can be claimed.

In addition, certain causes of death may be excluded from the policy, such as those resulting from risky behaviors, pre-existing conditions, or suicide within the first two years of the policy being issued.

Average Costs Of A 35-Year Term Life Insurance Policy

The cost of a 35-year term life policy can vary greatly based on several factors, but it’s essential to understand the average costs to gauge what you might expect to pay. According to the data collected from various sources, the average cost of term life insurance in 2023 is around $26 a month or $305 per year. However, these figures can fluctuate based on the individual’s age, health status, lifestyle, and the amount of coverage chosen.

When calculating the cost of a 35-year term life insurance policy, insurers consider several key factors. Age is one of the most significant determinants since younger individuals generally pose less risk and therefore pay lower premiums.

Similarly, your health status plays a pivotal role; those with existing health conditions may have higher premiums due to increased risk. Your lifestyle choices, such as smoking or engaging in high-risk activities, also impact the cost.

Last, the amount of coverage you choose directly influences the premium – the higher the death benefit, the higher the cost of the policy.

Average cost for nonsmokers

Age Male (Average Monthly Cost) Female (Average Monthly Cost)
25 $31 $28
35 $38 $31
45 $55 $40
55 $100 $85

Average cost for smokers

Age Male Smoker (Average Monthly Cost) Female Smoker (Average Monthly Cost)
25 $74 $63
35 $102 $87
45 $184 $152
55 $379 $313

Tip: Be sure to get quotes from several life insurance companies to make sure you’re getting the lowest rate possible; but be sure you’re doing an apples-to-apples comparison of policies.

Who Qualifies For 35-Year Term Life Insurance?

As one of the term life policies having the longest term, a 35-year policy can provide extensive coverage to help protect your loved ones’ financial future. However, qualifying for this type of policy requires meeting certain criteria. Let’s look at factors that determine eligibility.


Age is a significant determining factor when applying for a 35-year term life insurance policy. Some insurance providers set an upper age limit for applicants, typically around 45 to 50 years old. This age limit ensures that the risk associated with insuring the applicant remains manageable for the insurer over the long term.

Health Status

Your current health status can also influence your eligibility for a 35-year term policy. Insurers usually require a medical examination as part of the application process. They use the results to assess your overall health and identify any existing conditions that could increase your risk of mortality. Therefore, individuals with good health are more likely to qualify for a 35-year term life insurance policy.


Lifestyle choices, such as smoking or excessive alcohol consumption, can impact your eligibility for a 35-year policy. These habits can lead to health problems over time, increasing your risk from an insurer’s perspective. Maintaining a healthy lifestyle can improve your chances of qualifying for a 35-year term life insurance policy.

Family Medical History

Family medical history plays a critical role in the qualification process for a 35-year term life insurance policy. If your family has a history of health issues like heart disease or cancer, this could signal a higher risk to insurers. While you can’t change your genetics, being aware of your family history can help you take preventive measures to improve your health and increase your eligibility.

By understanding these, you can take steps to improve your eligibility and secure the extensive coverage that a 35-year term life insurance policy provides.

Tip: Smokers who go smoke-free for 12 months should contact their life insurer and inquire about a rate reduction. Submitting physicians records with recent lab results may be required.

Who Is A 35-Year Term Life Insurance Policy Suited For?

If you’re in the prime of your life, looking ahead and wondering how best to safeguard the financial future of your loved ones, a 35-year term life insurance policy could be exactly what you need. Let’s look at who stands to benefit most from this policy.

Young Adults With Long-Term Financial Obligations

When you’re young and starting a family, a 35-year term life insurance policy can serve as a financial safety net for your loved ones. Suppose you have children or plan to start a family soon. In that case, a 35-year term policy ensures your children’s financial needs are met until they reach adulthood and become financially independent.

Homeowners With Lengthy Mortgages

As someone who has recently purchased a home with a 30-year mortgage, a 35-year term insurance policy might be an excellent fit for you. This type of policy aligns perfectly with the duration of most mortgages, ensuring that your family won’t lose their home if you’re no longer there to make the payments.

Some may argue that a 30-year policy might be sufficient, but remember, a 35-year policy gives an extra five years of coverage, providing additional peace of mind.

Individuals Seeking Affordable Premiums

If you’re looking for life insurance coverage but are concerned about cost, a 35-year term life insurance policy could be an ideal solution. Compared to permanent life insurance policies, term life insurance generally offers more affordable premiums.

The reason? These policies only provide coverage for a specific period, and the insurance company only pays out if the policyholder passes away during the term.

High-Income Professionals With Dependents

High-income professionals, particularly those with dependents, can significantly benefit from a 35-year policy. If you’re a primary income earner, your sudden absence can have a profound financial impact on your dependents.

A 35-year term life insurance policy can replace your income, ensuring your dependents maintain their lifestyle and meet their financial obligations without any hardships.

Tip: Several companies offer 40-year term life insurance policies, though many advisors believe that is too lengthy of a term for most individuals.


What does 35-year term life insurance mean?

A 35-year is a type of life insurance that provides coverage for a specified period of 35 years. If the policyholder passes away within this time frame, the insurance company will pay a predetermined amount to the beneficiaries. The premium for this policy remains fixed for the entire duration, making it an economical choice for many people.

Does 35-year term life insurance have cash value?

The short answer is no, it does not. Unlike whole life insurance policies, term policies like the 35-year term life insurance are pure death benefit plans. They’re designed to provide financial protection to your loved ones if you pass away during the term, but they do not build any cash value over time.

How much does a-35 year term life insurance policy cost?

Generally, the premium for a 35 year term policy can range anywhere from $20 to $100 per month, depending largely on your age, health, and lifestyle at the time of purchase. It’s important to remember that while this might seem more expensive compared to shorter-term policies, it offers a longer coverage period and fixed premiums, which can prove to be economically beneficial in the long run

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