A coil component includes a body; a support substrate disposed in the body; a coil portion including a first coil pattern, a first lead-out pattern, and a second lead-out pattern; a first slit portion defined at a corner portion between the first end surface and the first surface, and a second slit portion defined at a corner portion between the second end surface and the first surface, the first and second slit portions exposing the first and second lead-out patterns; a first external electrode and a second external electrode spaced apart from each other on the first surface, and respectively extending onto the first and second slit portions to be connected to the first and second lead-out patterns; and a surface insulating layer disposed on the first and second slit portions to cover a portion of the first and second external electrodes and extending onto the first surface.