Having the right amount of coverage is typically most important. So if you have a tight budget, reduce the term length before the coverage amount.

Purchasing one larger policy is often cheaper than layering several smaller ones.

If you currently have a supplemental group policy, check your rates. They often go up every 5 years or sooner. In the long run, it may be cheaper to have your own term policy. Plus, your own policy will stay with you even if you change jobs.

If you need coverage for 20 years, it's usually cheaper to buy a 20-year policy now rather than a 10-year policy now and reapplying in 10 years for another 10-year policy. Rates go up with age, sometimes significantly. You also run the risk of your health declining, making it more difficult to qualify in the future.

Some term insurers offer policies that may be converted to permanent coverage later on. This may be worth considering, especially if your health changes.