Why should I buy a 15 Year Term if I only need insurance for 11 years?

Because of renewal cost! If you already know you need coverage for 11 years, a 10 Year Term would not cover your need. If you still wish to go for a 10 Year Term, beware of the renewal cost after the initial 10 year period comes to an end. It could be prohibitive depending on your age. Based on our experience, people tend to extend the period and even upgrade the face amounts to higher ones rather than the other way. This is why we often recommend a 20 Year Term. You can walk away from the policy if you really no longer need the insurance but at least you have pinned down the rate for 20 years, which means the company cannot walk away. It is better than facing a 300% renewal increase after 10 years. If your health has changed it can be costly!