1 Year Short Term Life Insurance

Short-Term Life Insurance

Get 1 year of coverage quickly for as low as $10 per month at Fidelity.*
No medical exam required.

1-year, low-cost life insurance

Short-term life insurance is designed to provide your loved ones with financial support in case you pass away within one year of purchasing the policy. One-year life policies through Progressive from Fidelity Life start at just $10 per month* with coverage levels going up to $200,000. At the end of your term, you can decide to purchase another year of short-term coverage, a longer term life insurance policy (starting at 10 years), or a permanent policy like whole life insurance.

Why buy short-term life insurance?

How does short-term life insurance work?

Short-term life insurance coverage works just like a standard term policy, except that it's only in effect for one year rather than 10 or more years. If you pass away during the year of coverage, your beneficiaries can file a claim for your policy's death benefit, and they may use the payout dollars however they wish — to help pay off debt, cover end-of-life expenses, or pay for everyday costs. You can even name a charity as one of your beneficiaries.

When to buy short-term life insurance

One-year, short-term life insurance is designed for individuals just starting out with life insurance and those looking to fill a temporary need or gap in coverage. For example, you may be:

  • In between jobs: If you had a group life insurance policy with your previous employer, you could replace it with a short-term life insurance policy while you hunt for a new job.
  • Paying off a specific debt: A short-term life insurance policy can provide enough coverage for a large debt or financial obligation that you plan to pay off soon.
  • Making lifestyle changes: If you're working on your diet, exercise routine, or quitting smoking, then short-term life may be a more affordable term life insurance option for you right now. Once you make those lifestyle changes, you could switch to a longer lasting policy and possibly get better rates than you could before.

One-year, short-term life insurance is a low-cost way to quickly access ample coverage with a flexible commitment. At the end of the year, you can purchase another year of coverage or get a different life insurance policy.

Learn more about life insurance

Have additional questions? Progressive Answers is your resource for all things life insurance. See all life insurance tips and resources.

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