How Much Does Life Insurance Cost? Rates by Age, Amount and Term
Term life rates by age, coverage amount, term length, health class and smoking status, from October 2026 data, plus what drives the price and how to pay less.
Term life insurance is often cheaper than people expect, especially when you are young and healthy. But prices rise steeply with age and smoking. The tables below use MoneyGeek's October 2026 data, based on thousands of quotes from 21 major term life insurers, so you can see what people like you are paying.
Term life rates by age
Monthly rates for a 20-year, $500,000 term policy, nonsmoker, average health:
| Age | Women | Men |
|---|---|---|
| 25 | $30 | $32 |
| 30 | $32 | $38 |
| 35 | $37 | $47 |
| 40 | $47 | $59 |
| 45 | $69 | $90 |
| 50 | $102 | $137 |
| 55 | $168 | $231 |
| 60 | $286 | $395 |
| 65 | $415 | $591 |
Source: MoneyGeek, updated October 11, 2026. Estimates; your quote will differ.
Rates by coverage amount (age 40)
Monthly rates for a 20-year term, age 40, nonsmoker, average health:
| Coverage | Women | Men |
|---|---|---|
| $100,000 | $16 | $19 |
| $250,000 | $28 | $35 |
| $500,000 | $47 | $59 |
| $750,000 | $67 | $85 |
| $1,000,000 | $86 | $109 |
Notice that doubling coverage from $500,000 to $1 million costs much less than double. Larger policies are usually cheaper per dollar of coverage.
Rates by term length (age 40)
| Term ($500,000) | Women | Men |
|---|---|---|
| 10 years | $34 | $41 |
| 15 years | $40 | $50 |
| 20 years | $47 | $59 |
| 25 years | $53 | $69 |
| 30 years | $82 | $104 |
How your health class changes the price
Insurers sort applicants into health classes after reviewing their medical history, habits and sometimes a medical exam. For a 40-year-old buying $500,000 of 20-year term:
| Health class | Women | Men |
|---|---|---|
| Preferred Plus | $29 | $35 |
| Preferred | $36 | $43 |
| Standard Plus | $47 | $59 |
| Standard | $52 | $66 |
The cost of smoking
Smoking is the single biggest price factor after age. For a 40-year-old buying $500,000 of 20-year term, MoneyGeek found smokers pay $148 a month (women) and $194 (men), compared with $47 and $59 for nonsmokers. Smokers pay roughly 2.3 to 3.3 times as much, depending on age and sex. Many insurers require 12 consecutive months without tobacco or nicotine for nonsmoker rates.
What drives the price
- Age: the younger you buy, the cheaper. Between 50 and 60, rates roughly triple.
- Sex: women pay less at every age because they live longer on average.
- Health and family history: conditions such as high blood pressure or diabetes can move you to a lower health class.
- Tobacco and nicotine use.
- Driving record and lifestyle: a DUI, reckless driving or dangerous hobbies can raise rates. See life insurance after a DUI.
- Coverage amount, term length and policy type.
How to pay less
- Buy sooner rather than later. Every birthday and every new health issue raises the price.
- Choose term unless you have a genuine lifelong need. See term vs. whole life.
- Buy the right amount and term. Don't overbuy; see how much you need.
- Quit tobacco and ask to be re-rated after 12 months.
- Compare several insurers, since each one weighs health factors differently.
- Consider a medical exam. No-exam policies are convenient but often cost more. See no-medical-exam life insurance.
Frequently asked questions
Why do women pay less for life insurance?
Insurers price life insurance on life expectancy, and women live longer on average, so they pay less at every age in published rate data.
How long do I have to quit smoking to get nonsmoker rates?
Many insurers require at least 12 consecutive months without tobacco or nicotine to qualify for nonsmoker rates. Some have longer requirements for the best classes.
Does life insurance get more expensive every year?
Not with level term: the premium is usually fixed for the whole term. It does cost more to buy a new policy as you get older, and renewing after the term ends can be much more expensive.
Is whole life much more expensive than term?
Yes, for the same death benefit, permanent coverage costs much more because it lasts for life and builds cash value. See our term vs. whole life guide.
Sources
- Term Life Insurance Rates by Age Chart (updated October 11, 2026), MoneyGeek
- What Type of Life Insurance Is Right for You? (October 12, 2026), NAIC
- Life Insurance Buyer's Guide, NAIC
Sources were checked on October 14, 2026. Laws, fees and prices change; always confirm with your state agency or insurer.