Term Life Insurance

Get affordable coverage for a specific period of time.

Term life insurance is a budget-friendly option for covering costs that diminish over time, like consumer debt, mortgage balances, and education expenses. And because you can convert a term policy to a permanent policy later, it’s a great way to get started.

Term policies are a good fit for:

  • Young policyholders who can take advantage of lower age-based rates
  • Growing families with limited finances
  • First-time life insurance purchasers who want a short-term solution until they can afford a more permanent one
  • Permanent policy holders who want to supplement their coverage

Life insurance on your terms

Term policies from Principal® offer low rates, lots of flexibility, and tax-free death benefits for your beneficiary, in 10-, 15-, 20- and 30-year term lengths, as well as a one-year term for short-term needs. 

And when you’re ready, you can convert your term policy to a permanent, cash-value policy with the same death benefit—without providing further evidence of insurability.

How much life insurance do you need?

Use our quick calculator to find out and get a quick quote for term or permanent insurance.

Have an insurance policy with Principal?

Access your account information online.

We're here to help

Visit our insurance help section, or call us at 800-986-3343.

Help on protecting those who depend on you

Woman reviewing questions about life insurance and disability insurance.

Insurance FAQ

Have questions about life insurance or income protection (disability insurance)? Principal can help.

Older man reviewing common myths about life and disability insurance.

Insurance myths: Why Life & Disability Insurance are more important than you think

This dad knows life insurance is an essential investment for protecting his assets—and his loved ones.

Why Life Insurance?

All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. Policy guarantees and benefits are not backed by the broker/dealer and/or insurance agency selling the policy, nor by any of their affiliates, and none of them makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company.