Physician term life insurance, simplified

Life insurance is simpler than the industry makes it sound. For most physicians, the right answer is straightforward: level term life insurance, if anyone depends on your income. This guide explains who needs it, how much, and what to avoid. We don’t sell policies — we point you to independent, physician-focused brokers when you’re ready.

Who needs it

If you have a spouse, children, or shared debt that someone else would be responsible for, term life replaces your income if you die during your working years. If no one depends on you financially, you may not need it yet.

Why term, not whole life

Level term — often a 20- or 30-year policy with a fixed premium — is inexpensive and does exactly one job well: it pays out if you die during the term. Whole-life and universal-life products bundle insurance with a high-cost “investment” and are frequently sold to physicians as something they’re not. Unless a qualified, fee-only advisor has specifically identified a reason you need permanent insurance, term is almost always the right choice.

How much, and when

A common starting point is enough to cover your family’s needs — replacing your income for the years your dependents would need it, plus major obligations. Like disability insurance, term life is cheapest when you’re young and healthy, so residency or your first attending year is a good time to lock in a long level term.

How to get quotes

Compare through an independent broker who can shop multiple insurers; the same physician-focused brokers who handle disability insurance usually place term life as well, so you can often handle both in one conversation.

Educational estimates, not financial advice. Product terms, rates, and program availability vary by provider and state and change frequently — verify current details directly with each provider. See our disclosures.