I am 30s. term insurance premium seems affordable for me. should i go for coverage term 65 my retirement age or 85 since it not that expensive for term.

Why are you getting the term insurance? Most people get it for dependent protection. If that is your purpose, likely 65 is good enough since your children are likely to be independent by then. I don't need many purposes to get it to 85, a waste of money, since you can't be sure you will pass by 85. What if you live beyond that? Then all your premiums will go to waste.

Hi anon,

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What are you aiming to cover here?

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If it's loss of income from death due to you having liabilities or dependents, then term insurance till an age whereby you have no more outstanding liabilities or dependents will be good enough. In this case, a term will usually suffice.

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But if it is to protect loss of income from an illness, you have to ask yourself how much income may be lost, as well as include a buffer for expenses that you only incur when you are ill, like off label drugs, TCM, helper, etc (I'll group this as alternative treatment). In this scenario, term may not always be the most cost efficient due to the cost of the CI rider, which adds up quickly. Also, to cover alternative treatment, which will be something that, if you are looking for it, coverage till 85 on a term becomes very expensive and can be an issue - what happens if you get diagnosed at age 86 instead?

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The numbers really vary depending on your exact age, gender, etc, so I'll suggest looking at various options and working out the numbers to see what best suits you.