Disclosed herein is a coil component that includes a magnetic element body, a coil pattern and a conductor post embedded in the magnetic element body, a post protective film provided between the conductor post and the magnetic element body, a cover insulating film covering a mounting surface of the magnetic element body, and a terminal electrode provided on the cover insulating film and connected to the conductor post through a first opening formed in the cover insulating film. The terminal electrode includes: a first conductor layer contacting the conductor post through the first opening and having a second opening through which a part of the conductor post is exposed; and a second conductor layer having a resistance value lower than the first conductive material, covering the first conductor layer, and contacting the part of the conductor post through the second opening.