How much is term life insurance? There’s no quick answer to that question because it’s different for everyone. There’s no such thing as a “standard” or “one size fits all” price for life insurance. It all depends on factors like your age, health, term length, and coverage amount. We’ll go over all the factors that affect life insurance pricing below, as well as give you some sample term life rates for different ages and policy face values.
➡️ Rather talk to a real person about term life insurance? Call us at (800) 823-4852 and our licensed life insurance agents will answer any questions you have. Or click the button below to get a free quote from our website!
Get a Free QuoteSample Rates: How Much Is Term Life Insurance?
Below, you can see sample rates for term life insurance for men and women of various ages (20-70), with different term lengths and policy face values. All these factors change what the policy costs, so keep in mind that your policy would be priced differently, even if you’re applying for the same term length and coverage amount. We’ll go over these pricing factors in more detail below, but first, take a look at these sample rates.
Sample Rates for Men & Women, age 20-30
| M/F | Age | State | Health | Tobacco | Term | Face Value | Cost as low as |
|---|---|---|---|---|---|---|---|
| M | 20 | Ohio | Best Class | No | 30 years | $500,000 | $28/month |
| M | 25 | New Mexico | Best Class | No | 20 years | $250,000 | $12/month |
| M | 30 | Iowa | Best Class | No | 30 years | $350,000 | $22/month |
| F | 20 | Virginia | Best Class | No | 30 years | $1,000,000 | $34/month |
| F | 25 | Nebraska | Best Class | No | 30 years | $750,000 | $30/month |
| F | 30 | Louisiana | Best Class | No | 25 years | $500,000 | $21/month |
Sample Rates for Men & Women, age 31-40
| M/F | Age | State | Health | Tobacco | Term | Face Value | Cost as low as |
|---|---|---|---|---|---|---|---|
| M | 20 | Ohio | Best Class | No | 30 years | $500,000 | $28/month |
| M | 25 | New Mexico | Best Class | No | 20 years | $250,000 | $12/month |
| M | 30 | Iowa | Best Class | No | 30 years | $350,000 | $22/month |
| F | 20 | Virginia | Best Class | No | 30 years | $1,000,000 | $34/month |
| F | 25 | Nebraska | Best Class | No | 30 years | $750,000 | $30/month |
| F | 30 | Louisiana | Best Class | No | 25 years | $50,000 | $21/month |
Sample Rates for Men & Women, age 41-50
| M/F | Age | State | Health | Tobacco | Term | Face Value | Cost as low as |
|---|---|---|---|---|---|---|---|
| M | 43 | Kansas | Best Class | No | 20 years | $250,000 | $23/month |
| M | 45 | Georgia | Best Class | No | 30 years | $200,000 | $40/month |
| M | 50 | Delaware | Best Class | No | 20 years | $200,000 | $35/month |
| F | 43 | Nevada | Best Class | No | 30 years | $250,000 | $30/month |
| F | 45 | Florida | Best Class | No | 20 years | $350,000 | $29/month |
| F | 50 | Hawaii | Best Class | No | 25 years | $300,000 | $57/month |
Sample Rates for Men & Women, age 51-60
| M/F | Age | State | Health | Tobacco | Term | Face Value | Cost as low as |
|---|---|---|---|---|---|---|---|
| M | 52 | Illinois | Best Class | No | 30 years | $250,000 | $95/month |
| M | 57 | Colorado | Best Class | No | 20 years | $150,000 | $64/month |
| M | 60 | W. Virginia | Best Class | No | 15 years | $150,000 | $60/month |
| F | 52 | Indiana | Best Class | No | 25 years | $300,000 | $70/month |
| F | 57 | N. Dakota | Best Class | No | 25 years | $250,000 | $113/month |
| F | 60 | Kentucky | Best Class | No | 20 years | $200,000 | $68/month |
Sample Rates for Men & Women, age 61-70
| M/F | Age | State | Health | Tobacco | Term | Face Value | Cost as low as |
|---|---|---|---|---|---|---|---|
| M | 62 | Arkansas | Best Class | No | 20 years | $150,000 | $109/month |
| M | 65 | California | Best Class | No | 15 years | $100,000 | $69/month |
| M | 70 | Maryland | Best Class | No | 15 years | $100,000 | $120/month |
| F | 62 | Maine | Best Class | No | 20 years | $200,000 | $86/month |
| F | 65 | Wisconsin | Best Class | No | 15 years | $150,000 | $74/month |
| F | 70 | Rhode Island | Best Class | No | 10 years | $100,000 | $67/month |
➡️ Rather talk to a real person about term life insurance? Call us at (800) 823-4852 and our licensed life insurance agents will answer any questions you have. Or click the button below to get a free quote from our website!
Get a Free QuoteFactors that Affect Term Life Insurance Prices
So now you’ve seen a few sample rates. Next, let’s look at what affects those rates – what makes your rate different than your co-worker’s or your neighbor’s?
Factor 1: Policy Details
Term life costs are based partly on the details you select for your policy:
- Term length. The longer you want to be insured, the more it will cost. As expected, a 30-year policy will cost more than a 10-year policy since there’s a greater chance that you’ll pass away during that longer time span.
- Face value. The bigger the death benefit, the more it will cost. Surprisingly, however, many insurers give price breaks for larger face values. If you’re on the fence between choosing $250,000 and $500,000 of coverage, for example, run a quote for both – you might be surprised to see the higher amount cost less than you expected. Wondering how much you need? Click here to learn how to figure it out.
- Riders (policy add-ons). Most insurers offer additional benefits you can add to your policy for a fee, called “riders.” A few examples include child riders to extend coverage to your children, and disability riders that pause your premium payments if you become disabled and can’t work.
- Medical exam or not? Insurers need to know more about your health and history before they can assign you a rate. Traditionally, they did this by paying for a medical exam. An examiner would come to visit you at your home or office and measure your height and weight, as well as collect blood and urine samples. That data let the insurer customize your price based on your personal health in that moment. But now, you also have the option to skip that exam and have the insurer gather information about you in other ways, such as through medical and prescription databases. If you’re afraid of needles or just don’t have the time, this is a great option to get covered without the hassle. It does usually cost a little more, however, since the data isn’t quite as helpful as the medical exam test results.
➡️ Rather talk to a real person about term life insurance? Call us at (800) 823-4852 and our licensed life insurance agents will answer any questions you have. Or click the button below to get a free quote from our website!
Get a Free QuoteFactor 2: Your Lifestyle & Health Details
But your policy details are only part of the story. The rest of your policy cost comes from details about your current health, your family’s health history, your job, and more.
- Your current health. To get a full picture of your health, the insurer will want more information about you. You can either take the free medical exam like we mentioned above, where an examiner will visit you to collect blood and urine samples, or you can skip the exam and pay a little more for a non-med policy. With non-med policies, insurers gather information about you from your medical records, past prescription history, and even your DMV driving record. If you’re in good health, it will be more affordable in the long run to take the medical exam. If you have a chronic condition like asthma or diabetes, you can expect to pay for more coverage. Does something in your medical history make you think you can’t get covered? Call us at (800) 823-4852 – our specialty is helping clients who’ve been turned down elsewhere find the coverage they need.
- Your family’s health history. The insurer will also ask you questions about your family’s health history: are your parents and siblings still alive? Did any of them have premature deaths due to things like heart attack, stroke, or cancer? If so, that may affect your term life insurance price.
- Your job. What do you do for a living? Is it dangerous? Jobs like pilots and divers come with big risks, and insurers will charge you more if your job puts your life on the line or could cause medical issues for you later.
- Your lifestyle. Do you have any dangerous hobbies? Go rock climbing or hang gliding on weekends? Or maybe you race cars or scuba dive. For insurers, these hobbies mean you should cost more to insure because of the risks inherent in those activities. Insurers may also look at your credit and your DMV record to see if you’ve shown evidence of risky behavior in the past. From their point of view, they want to make sure their risk is covered. If they see you as a higher risk, they’ll offer you a higher price as a result.
➡️ Rather talk to a real person about term life insurance? Call us at (800) 823-4852 and our licensed life insurance agents will answer any questions you have. Or click the button below to get a free quote from our website!
Get a Free QuoteQuotes vs. Rates: What Will I Actually Pay for Term Life Insurance?
So…to get back to our original question…how much is term life insurance? The only way to find out is to get a quote, select a policy, and apply. That’s because the amount you’re quoted is just that – a quote. It’s not a guarantee. That quote could change based on the information the insurer collects about you and your health during the application process.
When you work with us to buy a policy, we stick with you through the entire process.
When it comes to life insurance rates, we’ve seen it all because we’ve been in business since 1972. Our agents and case managers have successfully pushed back on insurers to help ensure our clients get the best possible rates. We have our own underwriter who can double-check their work and help us ensure their offer is fair and reasonable.
If you want someone on your side as you shop for life insurance, give us a call! We’ll be with you every step of the way.
➡️ Call us at (800) 823-4852 and our licensed life insurance agents will answer any questions you have. Or click the button below to get a free quote from our website!
Get a Free QuoteQuoted rates valid as of 8/9/23. Preferred best health class, no tobacco. Carriers quoted include Banner Life, Protective, American General, Haven Life, Pacific Life, Symetra, Transamerica, Lincoln, Cincinnati Life, and more. Your actual term life insurance premium can only be determined by a full application and the carrier's underwriting process, which may include some medical testing at their expense. Depending on the carrier, premiums can be paid on an annual, semi-annual, quarterly or monthly basis. Monthly premium rates may be available via EFT (electronic funds transfer). Not all carrier policies are available at all durations for all ages in all states.