Check out these sample term life insurance rates:
Quick Answer: A healthy 30-year-old man can expect to pay roughly $20 per month for a $500,000, 20-year term life insurance policy; a woman of the same age and health pays about $17. At 40, those rates rise to roughly $28 and $24. At 50, roughly $70 and $55. The 20-year term is the most popular length because it typically covers the years of a mortgage and raising children. Rates shown are for the Preferred Plus class — most applicants receive a different rating, so compare quotes for your actual price.
At LifeQuote, our mission is to give you the facts you need to make an informed decision. With a little help from our licensed experts, it's easy to find the best term life insurance rates. In our samples below, you can see how the rates increase as you age. That’s why we recommend buying as soon as possible – the younger you are, the lower your price! Keep in mind that these sample rates are for informational purposes only. Your actual rate will depend on factors like your age and health.
- Looking for a personalized quote? Fill out our quote form below and we’ll provide you with customized quotes. Or give us a call at 800-521-7873 and let one of our licensed experts give you rates over the phone.
- Want to skip the medical exam? When it comes to life insurance rates, term policies that require a medical exam are the least expensive. However, in the past few years, there’s been a drastic increase in accelerated underwriting. These policies provide a faster, easier, no-contact application process without an exam. Click here to learn more about no exam policies.
20 Year Term Life Insurance Rates
This is the most popular term length for our clients today. The 20-year term is offered by almost every provider, keeping competition high and rates for term life insurance fairly low. It's the default recommendation for a reason: a 20-year term typically spans the years when a mortgage is being paid down and children are growing toward independence — the period when your family is most financially dependent on your income. This length is a good option if you're:
How much does 20-year term life insurance cost?
For a healthy applicant in the Preferred Plus class, a $500,000 policy runs roughly $20 per month at age 30, $28 at age 40, and $70 at age 50 for men — and about $17, $24, and $55 respectively for women. Rates roughly double between age 40 and 50, which is the clearest argument for buying earlier rather than later. Smokers typically pay two to three times these amounts.
10 Year Term Life Insurance Rates
A 10-year policy is a smart choice if you meet the following criteria:
- You don’t need long-term coverage and don’t care if you outlive the term.
- You do need long-term coverage but don’t think you will outlive the term.
- You want to add supplemental coverage to an existing policy.
- Budget constraints mean you need to find the cheapest rates for term life insurance.
Opting for a short 10-year term is one way to get the best term life insurance rates available. If your budget is already stretched thin, consider a 10 year policy with the option to convert to a permanent policy. This way, you get covered right now at a price you can afford…plus you keep your options open for the future.
**These 10 year term life insurance rates are for the Preferred Plus rating class; all rates subject to change.
Sample 10 Year Term Life Insurance Rates
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $9.46 | $13.76 | $20.68 | $37.41 |
| 30 | $9.46 | $13.76 | $20.68 | $37.41 |
| 40 | $11.61 | $18.06 | $28.71 | $51.18 |
| 50 | $23.65 | $40.62 | $71.07 | $135.57 |
| 60 | $58.15 | $108.87 | $204.27 | $402.17 |
| 70 | $178.06 | $321.93 | $609.45 | $1215.61 |
| 80 | $772.97 | $1499.47 | $2898.44 | $5791.19 |
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $8.60 | $12.04 | $17.51 | $28.88 |
| 30 | $8.60 | $12.04 | $18.04 | $31.49 |
| 40 | $10.75 | $16.34 | $25.28 | $45.81 |
| 50 | $20.43 | $33.82 | $58.77 | $110.97 |
| 60 | $42.14 | $73.97 | $134.77 | $262.97 |
| 70 | $108.26 | $200.28 | $372.38 | $735.75 |
| 80 | $478.85 | $951.57 | $1848.88 | $3399.88 |
15 Year Term Life Insurance Rates
15 year policies are an affordable choice for parents with young kids who need coverage until the kids are grown. If your child is 5 years old and starting kindergarten, for example, a 15 year policy covers you until they’re age 20 – safely off to college or beginning a new life as an adult.
We also have clients who also use these shorter terms to cover themselves during the final stretch of a financial obligation. This includes the last 15 years of a mortgage as well as the final 15 working years of the insured before retirement. Because you’re not paying the higher rates that come with a longer term, a short term like this may also let you buy a substantially higher face amount, providing extra protection while locking in the best term life insurance rates possible. Best of all, your premiums won’t increase for the course of your term.
**These 15 year term life insurance rates are for the Preferred Plus rating class; all rates subject to change.
Sample 15 Year Term Life Insurance Rates
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $10.51 | $15.05 | $23.65 | $42.57 |
| 30 | $10.51 | $15.05 | $23.65 | $42.57 |
| 40 | $12.97 | $20.21 | $34.83 | $64.93 |
| 50 | $30.82 | $54.32 | $99.47 | $192.37 |
| 60 | $76.47 | $141.72 | $268.97 | $531.37 |
| 70 | $252.66 | $462.88 | $917.40 | $1770.12 |
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $9.67 | $13.49 | $20.88 | $35.67 |
| 30 | $9.89 | $14.49 | $22.79 | $40.14 |
| 40 | $12.47 | $19.96 | $33.97 | $63.21 |
| 50 | $23.87 | $41.71 | $77.52 | $149.94 |
| 60 | $54.61 | $96.32 | $186.19 | $367.65 |
| 70 | $153.94 | $260.04 | $511.72 | $983.40 |
20 Year Term Life Insurance Rates
This is the most popular term length for our clients today. The 20-year term is offered by almost every provider, keeping competition high and rates for term life insurance fairly low. This length is a good option if you’re:
- Close to middle age and have families or large expenses to pay off
- A homeowner who needs financial protection to cover the mortgage
- A parent who wants to provide for the cost of higher education for the kids
- A business owner who want to protect their small business or business partners
**These 20 year term life insurance rates are for the Preferred Plus rating class; all rates subject to change.
Sample 20 Year Term Life Insurance Rates
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $12.90 | $19.78 | $33.11 | $62.77 |
| 30 | $13.11 | $20.21 | $33.97 | $62.77 |
| 40 | $17.85 | $28.32 | $49.17 | $91.77 |
| 50 | $41.43 | $69.92 | $129.57 | $252.57 |
| 60 | $110.03 | $192.07 | $371.87 | $737.17 |
| 70 | $411.85 | $805.30 | $1546.62 | $3088.09 |
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $11.38 | $13.92 | $21.75 | $37.41 |
| 30 | $11.80 | $17.21 | $28.72 | $52.25 |
| 40 | $15.27 | $24.22 | $41.07 | $75.77 |
| 50 | $31.17 | $55.47 | $101.91 | $199.09 |
| 60 | $77.62 | $139.32 | $267.03 | $529.33 |
| 70 | $269.94 | $531.87 | $1048.25 | $2088.63 |
25 Year Term Life Insurance Rates
Because this term length isn’t a popular choice, you’ll see higher rates for term life insurance (per thousand dollars of coverage) in this category. Instances where it might make sense to buy a 25-year term policy would be to tailor your coverage just long enough to get a child through college, or to cover a mortgage that has more than 20 years to pay off.
**These 25 year term life insurance rates are for the Preferred Plus rating class; all rates subject to change.
Sample 25 Year Term Life Insurance Rates
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $16.38 | $25.37 | $44.29 | $83.42 |
| 30 | $16.98 | $26.66 | $46.87 | $88.58 |
| 40 | $24.60 | $43.23 | $79.63 | $154.10 |
| 50 | $57.79 | $108.05 | $203.12 | $401.09 |
| 60 | $196.79 | $372.49 | $699.52 | $1393.89 |
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $13.95 | $21.12 | $34.76 | $62.92 |
| 30 | $14.40 | $22.44 | $37.40 | $68.20 |
| 40 | $20.72 | $35.73 | $64.18 | $123.20 |
| 50 | $43.77 | $79.99 | $148.87 | $292.57 |
| 60 | $134.45 | $252.87 | $481.07 | $965.98 |
30 Year Term Life Insurance Rates
This is the most common “long” term coverage available, with the highest premiums of these term options (again, depending on your age, health, etc). Those who are recently married, expecting a baby, or have young children often seek out 30-year term life policies. If something happens to you, a 30-year term life policy provides replacement income long enough not only to cover your children's college education but also to cover financial expenses of your spouse and other dependents in the meantime.
**These 30 year term life insurance rates are for the Preferred Plus rating class; all rates subject to change.
Sample 30 Year Term Life Insurance Rates
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $18.49 | $24.36 | $42.63 | $79.17 |
| 30 | $19.78 | $32.68 | $58.05 | $110.94 |
| 40 | $29.67 | $52.46 | $99.33 | $193.93 |
| 50 | $66.22 | $125.13 | $251.93 | $498.70 |
| Age | $250,000 | $500,000 | $1,000,000 | $2,000,000 |
|---|---|---|---|---|
| 20 | $15.48 | $16.97 | $27.84 | $49.59 |
| 30 | $16.98 | $27.28 | $42.01 | $77.88 |
| 40 | $24.72 | $43.00 | $70.01 | $133.88 |
| 50 | $52.89 | $97.61 | $175.01 | $343.88 |
Why Choose a Term Life Policy?
There are two main types of coverage, term and permanent. Term life insures against the death of the policyholder during a specified term; if that happens, the insurer pays a tax-free lump sum to the beneficiaries. The temporary nature means that when it comes to life insurance rates, term is cheaper than a permanent policy, which is why it’s still the most popular type of coverage.
Permanent policies, such as whole life, universal, or variable life, can build cash value over time, providing investment savings that could address financial needs later in life. The premiums are higher than those of a term policy because the cash value grows and accumulates tax-free.
Experts consider this coverage to be an important part of any family’s personal financial plan. It’s not necessarily an investment, but rather a key component in planning for the needs of those left behind after the death of the household’s primary earner. A financial advisor can explain more of the complexities or creative ways you can use it as part of your portfolio.
Our Smart System™ quoting engine can provide you with a list of rates in minutes so you can see the best term life insurance rates available. Ready to get started?
Single and Young: This seems like it should be a carefree time, doesn’t it? But if you have student loan debt or credit card debt, consider who would have to pay that debt if anything happened to you. Many parents often purchase a policy to insure the life of their college student or new graduate. In this case, the student’s mother or father is both the policy owner and beneficiary. Plus, since you’re young and presumably healthy, your rates for term life insurance will likely be extremely affordable. And according to the 2025 Insurance Barometer Study by LIMRA and Life Happens, adults age 30 and younger overestimate the cost of a $250,000 20-year term policy by 10 to 12 times its actual price.¹
Married with Young Children: If your spouse and kids depend on your income for housing, food, and healthcare, your term life policy could be their lifeline. Luckily, a young and healthy policyholder can qualify for the best term life insurance rates available. Look for a 20 or 30 year policy to make sure your financial obligations are covered until those responsibilities start winding down. Buying now locks in those low rates for term life insurance and avoids the risk that possible health issues might result in higher rates later.
Single Parents: If you’re the only earner in the household, you are your child’s only safety net. Whether or not the other parent is in the picture emotionally, if your income pays for childcare costs, living expenses, and a future college education, the financial responsibility falls on your shoulders. Shorter policy lengths offer lower rates for term life insurance if you’re worried about staying on budget.
Couples with Kids in College: With the rising cost of a college education, coverage matters for couples with kids seeking higher education. If you don’t have a policy, this is the time to get one. If either of you dies prematurely, covering that lost income could deplete your retirement savings or other assets and leave your children struggling to pay for college. When it comes to life insurance rates, term policies get more expensive as you age…so acting now is in your best interest.
Business Owner with Partners: For the self-employed entrepreneur with a privately held business, a policy structured as a buy-sell agreement could assure the business continuation and a seamless transition to a business partner(s). The proceeds from the death benefit will provide the funds to pay off your family/beneficiaries and provide your partner(s) with the capital they need to continue running the company. Rates for term life insurance have decreased in the last few decades because people are living longer, so you might be surprised at how affordable it can be.
It’s true – the best term life insurance rates go hand-in-hand with policies that require a medical exam.
But some of our clients don’t like needles and would prefer not to provide the blood sample required for medical underwriting. Others are in good health and know they’d qualify without an exam. The good news? There are lots of options to get cheap coverage without the medical exam. We represent carriers including Assurity, Banner Life, Principal, Sagicor, and SBLI who all offer competitive rates for no-exam policies. Want to find out if you’re a good candidate? Ask us! Call us at 800-521-7873 or email us at hello@lifequote.com to find out more.
Ready to shop for the best term life insurance rates?
It only takes a few minutes to get a quote with our Smart System™ quoting engine. If you do own a policy, pull it out and review the benefits. Some policies have accelerated (living) benefits that are available if you become seriously ill or suffer a long-term illness. If you’re still in good health and want to buy additional affordable coverage, it doesn’t hurt to see what it would cost you to add to your existing coverage with a new policy.
Frequently Asked Questions: 20-Year Term Life Insurance Rates
How much does a 20-year term life insurance policy cost?
For a healthy 30-year-old in the Preferred Plus class, roughly $20 per month for $500,000 of coverage (about $17 for a woman). At 40, roughly $28 (about $24 for a woman). At 50, roughly $70 (about $55 for a woman). Rates roughly double between 40 and 50. Smokers typically pay two to three times these amounts, and most applicants receive a rating other than Preferred Plus — so compare quotes for your actual price.
Why is a 20-year term the most popular length?
Because it lines up with the years when families are most financially exposed: paying down a mortgage and raising children to independence. It’s also offered by nearly every carrier, which keeps competition — and therefore pricing — favorable. For a buyer in their 30s with young kids, a 20-year term covers the highest-risk window at a substantially lower cost than a 30-year policy.
Is a 20-year term long enough?
It depends on your longest financial obligation. If you have a newborn and a fresh 30-year mortgage, a 30-year term may line up better with your actual dependency window. If your children are school-aged and you’re roughly a decade into your mortgage, 20 years typically covers the period that matters. The rule of thumb: choose the term that outlasts your longest obligation.
How much does 20-year term life insurance cost at age 40?
Roughly $28 per month for $500,000 of coverage for a healthy man in the Preferred Plus class, and about $24 for a woman. At $250,000 it’s roughly $18 and $15 respectively; at $1 million, roughly $49 and $41. These are sample rates only — your health class, tobacco use, and carrier all move the number.
Do 20-year term rates go up over time?
No. With a level term policy, your premium is locked in for the full 20 years — it does not increase as you age or if your health changes. What rises is the rate you’d be offered if you bought a new policy later. That’s precisely why buying earlier locks in a lower price for the entire term.
What happens at the end of a 20-year term?
Coverage ends and no death benefit is paid. You typically have three options: let it lapse, renew year-to-year at a much higher annual-renewable rate, or convert to a permanent policy without a new medical exam, if your policy includes a conversion option. Note that most conversion windows close well before the end of the term — often around year 10 — so check your deadline early.
Are women’s 20-year term rates lower than men’s?
Yes. Because women have a longer average life expectancy, insurers price their coverage lower. Across the sample rates above, a woman typically pays roughly 10–20% less than a man of the same age for identical 20-year term coverage — a gap that compounds meaningfully over the full 20 years of premiums.
References
1 LIMRA and Life Happens. “Adults Age 30 and Younger Overestimate Life Insurance Cost by 10–12 Times.” LIMRA, June 2025.
All sample rates shown are for the Preferred Plus rating class and are subject to change. They are illustrative only and do not constitute an offer of coverage. Individual rates depend on age, health, tobacco use, coverage amount, term length, and carrier.