Nupur Gambhir is a accredited biography, health, and disability indemnity adept and a erstwhile aged editor at Policygenius. Her policy expertness has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and the end-of-life planning serve Cake. Term life indemnity rates depend on your age, gender, health, and hobbies, a well as length and sum of coverage. Term life policy protects your kin for a adjust menstruation — that is the term. If you die during your policy ’ randomness term ( normally 10, 20, or 30 years ), your beneficiary receives the end benefit. If you don ’ metric ton, the policy expires. A term life policy is designed to be simple and low-cost. The oklahoman you apply for term life policy, the better your rates can be. For exemplar, a 35-year-old non-smoker will pay about $ 30 per calendar month for a 20-year, $ 500,000 term life indemnity policy. The same person would pay about $ 60 for the same policy at historic period 45 — doubly ampere much. Every life sentence insurance lotion is different and aesculapian conditions or unhealthy habits could raise the cost of your term life coverage. Your rate could increase by deoxyadenosine monophosphate much as 23 % if you ’ re less healthy than average. Key Takeaways
- Term life indemnity rates differ for every person depending on age, sex, health, and kin checkup history .
- Buying coverage when you ’ re young and healthy is the best way to get the most low-cost terminus animation indemnity .
- Every life policy caller underwrites each application differently then shopping about is the best way to find the right insurance company for you .
How much does term life insurance cost?
The tables below show the modal cost of term liveliness indemnity policies that last 10, 20, or 30 years for people between the ages of 25 and 55. While these charts are a start point for understanding how the monetary value of term liveliness indemnity changes with long time, you can get a more individualized life insurance quote by using our term life indemnity coverage calculator and comparing quotes with an freelancer policy agentive role. ready to shop for term biography policy ? Start calculator
Term life insurance rates for a 10-year term policy
| age | sex | $ 250,000 | $ 500,000 | $ 1,000,000 |
|---|---|---|---|---|
| 25 | Female | $11.63 | $15.98 | $23.34 |
| Male | $13.43 | $19.94 | $29.85 | |
| 35 | Female | $12.22 | $17.43 | $25.83 |
| Male | $13.60 | $20.64 | $30.91 | |
| 45 | Female | $20.64 | $33.02 | $54.26 |
| Male | $23.49 | $37.91 | $65.50 | |
| 55 | Female | $39.30 | $67.21 | $123.11 |
| Male | $50.24 | $89.96 | $156.02 |
methodology : Sample monthly premiums are for male and female non-smokers with a Preferred health fink buying a 10-year term life policy policy ; Life indemnity averages are based on a composite of policies offered by Policygenius from AIG, Banner, Brighthouse, Lincoln, Mutual of Omaha, Pacific Life, Protective, Prudential, SBLI, and Transamerica and may vary by insurance company, term, coverage total, health class, and state. not all policies are available in all states. Rate illustration valid as of 4/11/2022 .
Term life insurance rates for a 20-year term policy
| Age
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sex | $ 250,000 | $ 500,000 | $ 1,000,000 |
|---|---|---|---|---|
| 25 | Female | $14.21 | $21.10 | $33.54 |
| Male | $17.18 | $26.97 | $44.79 | |
| 35 | Female | $16.55 | $25.53 | $42.76 |
| Male | $18.85 | $30.32 | $51.87 | |
| 45 | Female | $28.87 | $47.94 | $86.87 |
| Male | $35.55 | $60.80 | $112.94 | |
| 55 | Female | $61.56 | $109.12 | $208.38 |
| Male | $84.92 | $151.65 | $284.76 |
methodology : The chart above reflects rates, as of May 1, 2022, for male and female non-smokers in a Preferred health categorization with a 20-year term length. Rates are based on the monthly Policygenius Life Insurance Price Index. Prices in the index are determined by internal actuarial rate tables for 10 life insurance carriers that offer policies through the Policygenius marketplace : AIG, Banner Life, Brighthouse, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, SBLI, and TransAmerica .
Term life insurance rates for a 30-year term policy
| old age | sexual activity | $ 250,000 | $ 500,000 | $ 1,000,000 |
|---|---|---|---|---|
| 25 | Female | $19.41 | $30.96 | $52.37 |
| Male | $23.98 | $39.87 | $68.65 | |
| 35 | Female | $23.77 | $39.04 | $68.93 |
| Male | $27.76 | $46.49 | $83.68 | |
| 45 | Female | $45.47 | $80.09 | $148.98 |
| Male | $60.14 | $105.62 | $198.41 | |
| 55 | Female | $119.16 | $213.51 | $408.97 |
| Male | $165.91 | $307.27 | $598.85 |
methodology : Sample monthly premiums are for male and female non-smokers with a Preferred health rat buying a 30-year term liveliness insurance policy ; Life policy averages are based on a composite of policies offered by Policygenius from AIG, Banner, Brighthouse, Lincoln, Mutual of Omaha, Pacific Life, Protective, Prudential, SBLI, and Transamerica and may vary by insurance company, term, coverage measure, health class, and state. not all policies are available in all states. Rate example valid as of 4/11/2022 .
How do term life insurance premiums work?
Your condition life policy policy ’ randomness premiums are the amount you spend to keep the policy in impel so that your beneficiaries get the death benefit if you die. The price of your term life indemnity is determined by respective factors in addition to your historic period, including : Insurers use a health classification system to determine your term liveliness agio. The best classifications and most low-cost rates go to younger, healthier applicants who pose less risk to the insurance company — meaning they ’ rhenium less likely to die during the term of the policy .
How to find affordable term life rates
Because the cost of your term liveliness insurance policy depends on your alone visibility and each life indemnity company treats every health condition differently, there is no one provider guaranteed to offer the cheapest life indemnity for everyone. A Policygenius agent can shop your application around with different companies to find you the most low-cost term life policy quotes .
- Consider paying premiums annually. many insurers give a discount to applicants who agree to pay annual rather of monthly .
- Get healthy. Insurers normally let you retake the aesculapian examination one to two years after your policy goes into effect, so, if you ’ re unhappy with your rates, try kicking an insalubrious habit or getting in better shape .
- Opt for a shorter condition or less coverage. not ideal, but if you can ’ t afford the sum of term life insurance coverage you need, some indemnity is better than none .
→ Learn more about finding low-cost life indemnity
Frequently asked questions
How much does term life insurance cost?
Term life indemnity is the most low-cost type of biography indemnity. Your actual term animation indemnity rates will depend on your historic period and health, but on average a male or female in their 30s pays less than $ 30 for a $ 500,000, 20-year policy.
What is the best age to buy term life insurance?
The younger you are when you purchase your policy, the cheaper your life policy will be. Your 20s and 30s are the best time to buy term life policy to lock in low rates .
Is a 10-year term life insurance policy worth it?
A 10-year term life policy policy is worth considering if it fits your fiscal needs. For example, person with seven years left on their mortgage or person who took out a 10-year business loanword might want a 10-year policy to cover those debts .
What is the cost of a $500,000, 20-year term life insurance policy for someone in good health?
A $ 500,000, 20-year term life policy policy costs $ 20 to $ 30 per month for 25- to -35-year-old non-smokers in beneficial health, $ 48 to $ 61 per calendar month for 45-year-olds, and $ 109 to $ 152 per calendar month for 55-year-olds .
