I am sure you can agree that figuring out what your average life insurance rates should be can seem complicated. 

Especially if you are dealing with the 100’s of phone calls and random emails from agents. 

term life insurance rates by age

But, what if I told you that you can get the best term life insurance rates by age, gender, term length and policy type easily, by looking through them below.  And guess what, we don't need any contact information to give you a quote. 

In this post today we will cover how life insurance rates are calculated, the average cost of life insurance, how much life insurance you need, and review life insurance rates for both fully underwritten life insurance and life insurance with no physical exam.

How Much Is Life Insurance?

Though life insurance quotes are made up of many factors, a 36-year-old female in perfect health looking for a $250,000 20 year term policy will pay about $ per month while a 36-year-old male looking for the same coverage will pay around $ per month. 

How Much Life Insurance Do You Need?

Most insurance companies recommend that you have between 5 to 10 times your annual salary in life insurance. However, as a licensed agent, I always recommend my clients to purchase 20 times their annual income, because this, in essence, gives your family 20 years of income based on your salary if you were to pass away.

You are putting them in a more solid financial situation, and it allows your family to grieve during their time of loss and not focus on debt.

If you need help coming up with a number for how much you need, you can check out our term life insurance calculator. Below we discuss how life insurance rates are calculated. 

THE SIMPLY INSURANCE WAY

Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

How Are Life Insurance Rates Calculated?

As we stated above, life insurance rates are calculated based on several factors, we cover the most common ones below:   

  • Tobacco Use - Tobacco use is probably the one item on the list that will give you the largest increase in your premiums. Upwards to 60% or more per month..
  • Gender - All things being the same, if you are male, your premiums will be higher than women. This is because women typically live longer than men.
  • Age - Your age will also determine what your premiums will be. The younger you are when you purchase life insurance the more affordable it will be.
  • Term Length - The term length of your insurance policy will also play a role in how much you pay per month. The lower the term length, the lower your premiums.
  • Lifestyle - Insurance companies need to be sure that you don't take too many risks and that if you do, you probably will pay more per month. Things like race car driving or skydiving.
  • Health - Your health is the one factor that makes everyone's premiums different. If you have several health conditions you can expect a higher premium than usual.

While these factors will give you a pretty solid life insurance quote, they won't be the only factors used in determining your final rate.  There is a possibility that your rates could increase or even decrease once your application has been submitted. 

Life Insurance For Transgender Applicants

With gender being a large factor in your life insurance rates, several insurance companies have started to allow you to apply for coverage based on your gender identity while other will require you to apply based on your gender at birth.  

You can check out a list of life insurance companies that are Transgender friendly.  Outside of Gender, all traditional underwriting rules will still apply.

Average Term Life Insurance Rates By Age, Gender, & Policy Length.

Below are the average rates for a 10, 15, 20, and 30 year term life insurance policy. The 10 year term is going to give you the most affordable rates, while the 30 year term is going to be the most expensive option; however, it will also offer the most savings over time.

10 Year Term Life Insurance Rates

Sample rates below are based on a 10-year term for a healthy non-smoking female and male in excellent health. You will also notice that some rates stay the same up to a specific age range.

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$10.84

$13.00

$20.01


Male

$11.94

$14.72

$23.45

25

Female

$10.93

$13.00

$20.01


Male

$11.94

$14.72

$23.45

30

Female

$10.93

$13.00

$20.01


Male

$11.94

$14.72

$23.45

35

Female

$11.04

$13.43

$20.87


Male

$12.55

$15.59

$25.17

40

Female

$13.45

$16.88

$27.76


Male

$14.66

$18.60

$31.20

45

Female

$20.01

$26.78

$47.57


Male

$22.83

$30.23

$54.46

50

Female

$26.82

$37.12

$68.24


Male

$32.65 

$45.73

$85.47

55

Female

$38.70

$57.36

$108.72


Male

$52.87

$77.60

$149.20

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

15 Year Term Life Rates

Sample rates below are based on a 15-year term for a healthy non-smoking female and male in excellent health.


You will also notice that some rates stay the same up to a specific age range.

life insurance rates

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$12.26

$16.02

$26.03


Male

$13.15

$16.45

$26.90

25

Female

$12.42

$16.02

$26.03


Male

$13.15

$16.45

$26.90

30

Female

$12.57

$16.02

$26.03


Male

$13.15

$16.45

$26.90

35

Female

$13.17

$16.88

$27.76


Male

$13.45

$16.88

$27.76

40

Female

$16.71

$22.48

$38.96


Male

$17.70

$22.91

$39.82

45

Female

$22.97

$33.25

$60.49


Male

$30.68

$42.29

$78.57

50

Female

$31.54

$47.89

$89.77


Male

$44.57

$64.68

$123.37

55

Female

$44.45

$68.12

$130.25


Male

$68.25

$100.00

$193.99

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

20 Year Term Life Insurance Quotes

Sample rates below are based on a 20-year term for a healthy non-smoking female and male in excellent health. You will also notice that some rates stay the same up to a specific age range.

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$14.38

$19.03

$32.07


Male

$16.77

$22.05

$38.09

25

Female

$14.58

$19.03

$32.07


Male

$16.99

$22.48

$38.96

30

Female

$14.99

$19.46

$32.92


Male

$17.43

$22.48

$38.96

35

Female

$15.37

$20.32

$34.65


Male

$18.06

$23.34

$40.67

40

Female

$19.91

$28.07

$50.15


Male

$24.12

$32.38

$58.77

45

Female

$29.64

$43.15

$80.30


Male

$38.16

$56.07

$106.13

50

Female

$41.23

$61.67

$117.33


Male

$56.49

$84.06

$162.12

55

Female

$65.68

$98.27

$190.54


Male

$88.05

$135.31

$264.62

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

30 Year Term Insurance Quotes

Sample rates below are based on a 30-year term for a healthy non-smoking female and male in excellent health. You will also notice that some rates stay the same up to a specific age range.

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$19.34

$25.92

$45.84


Male

$24.17

$32.81

$59.62

25

Female

$19.60

$26.35

$46.71


Male

$24.49

$32.81

$59.62

30

Female

$21.52

$30.23

$54.46


Male

$26.53 

$36.26

$66.52

35

Female

$25.14

$35.40

$64.79


Male

$30.32

$41.42

$76.85

40

Female

$32.20

$48.32

$90.63


Male

$40.55

$59.95

$113.89

45

Female

$46.94

$71.14

$136.28


Male

$60.85

$91.38

$176.77

49

Female

$63.76

$99.56

$193.12


Male

$83.88

$131.00

$256.00

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

INSURANCE WHERE YOU LIVE

Life insurance by state.

Average No Exam Term Life Insurance Costs By Age, Gender, & Policy Length.

Below are the average rates for a 10, 15, 20, 25, and 30 year no exam term life insurance policy. In general, the no exam rates will be more expensive than the traditional term life insurance products. However, there is no faster way to get covered, and the rates are still very affordable.

10 Year No Exam Term Life Insurance Quotes

Sample rates below are based on a 10-year no exam term policy for a healthy non-smoking female and male in excellent health. You will also notice that some rates stay the same up to a specific age range.

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$8.29

$10.17

N/A


Male

$14.96

$22.25

N/A

25

Female

$8.29

$10.17

$14.33


Male

$14.96

$22.25

$38.50

30

Female

$9.33

$11.83

$17.67

Cell

Male

$14.96

$22.25

$38.50

35

Female

$10.58

$13.50

$21.00

Cell

Male

$14.96

$22.25

$38.50

40

Female

$16.63

$21.83

$37.67

Cell

Male

$22.67

$32.25

$58.50

45

Female

$22.46

$30.58

$55.17

Cell

Male

$30.58

$41.83

$77.67

50

Female

$32.04

$41.83

$77.67


Male

$44.75

$61.42

$116.83

54

Female

$39.75

$53.08

$100.17


Male

$56.00

$77.25

$148.50

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

15 Year No Medical Term Life Rates

Sample rates below are based on a 15-year no exam term policy for a healthy non-smoking female and male in excellent health. You will also notice that some rates stay the same up to a specific age range.

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$9.54

$12.67

N/A


Male

$14.96

$22.25

N/A

25

Female

$9.54

$12.67

$18.67


Male

$14.96

$22.25

$38.50

30

Female

$10.38

$13.92

$21.83

Cell

Male

$15.17

$22.25

$38.50

35

Female

$11.63

$16.00

$26.00

Cell

Male

$15.17

$22.25

$38.50

40

Female

$17.88

$25.58

$45.17

Cell

Male

$23.71

$35.58

$65.17

45

Female

$23.92

$35.17

$64.33

Cell

Male

$32.04

$48.50

$91.00

50

Female

$36.83

$43.08

$80.17


Male

$52.04

$61.83

$117.67

54

Female

$47.25

$57.25

$108.50


Male

$69.33

$80.58

$155.17

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

20 Year No Medical Exam Term Life Quotes

Sample rates below are based on a 20-year no exam term policy for a healthy non-smoking female and male in excellent health. You will also notice that some rates stay the same up to a specific age range.

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$10.79

$14.75

N/A


Male

$17.04

$23.08

N/A

25

Female

$10.79

$14.75

$23.50


Male

$17.04

$23.08

$40.17

30

Female

$12.04

$16.83

$27.76


Male

$17.88

$24.75

$43.50

35

Female

$14.13

$19.75

$33.50


Male

$18.71

$26.42

$46.83

40

Female

$22.88

$27.25

$48.50


Male

$29.96

$38.50

$71.00

45

Female

$31.63

$38.08

$70.17


Male

$41.21

$50.17

$94.33

50

Female

$40.38

$55.58

$105.17


Male

$52.46

$73.50

$141.00

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

25 Year Term Life Rates With No Exam

Sample rates below are based on a 25-year no exam term policy for a healthy non-smoking female and male in excellent health. You will also notice that some rates stay the same up to a specific age range.

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$12.88

$18.60

N/A


Male

$21.21

$28.08

N/A

25

Female

$12.88

$18.60

$31.20


Male

$21.21

$28.08

$50.17

30

Female

$15.58

$21.00

$36.00


Male

$23.92

$31.83

$57.67

35

Female

$18.71

$26.00

$46.00


Male

$26.63

$35.58

$65.17

40

Female

$31.42

$43.08

$80.17


Male

$46.00

$58.50

$111.00

45

Female

$54.75

$60.17

$114.33


Male

$72.25

$81.42

$156.83

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

30 Year No Physical Term Life Insurance Rates

Sample rates below are based on a 30-year no physical exam term policy for a healthy non-smoking female and male in excellent health. You will also notice that some rates stay the same up to a specific age range.

Age

Gender

$250,000

$500,000

$1,000,000

20

Female

$14.96

$21.83

N/A


Male

$25.17

$33.92

N/A

25

Female

$14.96

$21.83

$37.67


Male

$25.17

$33.92

$61.83

30

Female

$20.58

$28.08

$50.17


Male

$32.25

$43.50

$81.00

35

Female

$26.00

$36.00

$66.00


Male

$39.13

$52.67

$99.33

40

Female

$31.63

$43.92

$81.83


Male

$44.75

$60.17

$114.33

These Quotes are presented in a monthly premium format. The above quotes are for a non-smoker in excellent health and are subject to changes. Valid as of 04/01/21.

THE SIMPLY INSURANCE WAY

No Exam Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get no exam life insurance coverage within minutes of getting your quotes and applying.

Average Term Life Insurance Prices By State

Mississippi, Arkansas, New Mexico, Missouri, and West Virginia are the 5 most affordable states when it comes to life insurance premiums while New Jersey, Connecticut, Massachusetts, Maryland, and New Hampshire are the 5 most expensive states when it comes to life insurance premiums. 

THE STATE THAT YOU CURRENTLY LIVE IN

AVERAGE ANNUAL LIFE INSURANCE PREMIUMS

AVERAGE MONTHLY LIFE INSURANCE PREMIUMS

Alabama

$602

$50

Alaska

$655

$55

Arizona

$615

$51

Arkansas

$584

$49

California

$668

$56

Colorado

$645

$54

Connecticut

$724

$60

Delaware

$657

$55

District Of Columbia

$636

$53

Florida

$627

$52

Georgia

$630

$53

Hawaii

$687

$57

Idaho

$597

$50

Illinois

$631

$53

Indiana

$593

$49

Iowa

$601

$50

Kansas

$601

$50

Kentucky

$599

$50

Louisiana

$597

$50

Maine

$641

$53

Maryland

$712

$59

Massachusetts

$718

$60

Michigan

$610

$51

Minnesota

$639

$53

Mississippi

$581

$48

Missouri

$590

$49

Montana

$601

$50

Nebraska

$603

$50

Nevada

$607

$51

New Hampshire

$708

$59

New Jersey

$732

$61

New Mexico

$588

$49

New York

$675

$56

North Carolina

$617

$51

North Dakota

$603

$50

Ohio

$599

$50

Oklahoma

$598

$50

Oregon

$627

$52

Pennsylvania

$658

$55

Rhode Island

$660

$55

South Carolina

$615

$51

South Dakota

$591

$49

Tennessee

$609

$51

Texas

$633

$53

Utah

$636

$53

Vermont

$655

$55

Virginia

$682

$57

Washington

$655

$55

West Virginia

$590

$49

Wisconsin

$607

$51

Wyoming

$601

$50

The above data was obtained from Business Insider by way of S&P Global Market Intelligence. Data shows estimated average annual & monthly premiums of term life insurance policies per household.

When Is The Best Time To Buy Life Insurance?

The best time to buy life insurance is when you are young; the younger you are, the lower your monthly premiums will be when you purchase coverage. The ideal age is 18 years old, especially if you aren’t on your parent’s policy.

Not only do premium payments go up as you get older, but if you develop health problems as you age, it could make the premiums even more expensive or even disqualify you from getting covered. 

Getting The Best Term Life Rates

After checking out these rates, I am sure you are ready to take action, and that is a great thing.

You can get anonymous life quotes by clicking here , or just click any of the above buttons to apply online for coverage.

If you are interested more in the “No Exam” option, then click here where you can get instant quotes and immediate coverage.

The process is very simply no matter which option you choose, the most important thing is not to procrastinate.  You have seen a ton of quotes, now its time to take the next step and get covered.

Frequently Asked Questions


What is the maximum age for term life insurance?

When applying online, most products stop at age 75; however, if you are in excellent health, some companies can cover people up to age 85.

How much does 2 million in term life insurance cost?

The cost of a 2 million dollar term life insurance policy is going to depend on the individual.  Your age, gender, lifestyle, and tobacco use will all help determine your specific price.

What is the maximum age for term life insurance?

Most products stop at age 75; however, if you are in excellent health, some companies can cover people up to age 85.

What is the best age to buy term life insurance?

If your parents don't already have life insurance coverage on you, when you turn 18, you should buy term life insurance coverage.

At what age does term life insurance end?

Term life insurance doesn't end at a specific age; however, it does stop at the term length you purchase. So, if you purchase a 10-year term, the policy will end in 10 years, regardless of age.

Can you get term life insurance at age 70?

Yes, several companies will cover you at age 70; sometimes, the limits of coverage may be lower, as well as the term length options. You should also expect to complete a medical exam.

How much is term life insurance for a 35 year old?

A 20 Year $250,000 Term Policy for a 35-year-old male in perfect health will cost around $14.93/month.

What happens if I outlive my term life insurance?

If you outlive your term life insurance policy, it will go into a renewal stage, and you can choose to keep the policy and pay a new premium or let it lapse. If you think you will need coverage for a longer time than you have left in the policy, you might consider a conversion.

Is natural death covered in term insurance?

Yes, term life insurance is considered to have an all-cause death benefit. It will payout for a natural death or death from a chronic, critical, or terminal illness.

Get An Instant Life Quote Today!

The final insurance policy premium for any policy is determined by the underwriting insurance company following the application.


Sa El

About the author

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 12 years of experience in the industry.  He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also an Official Member of the Forbes Finance Council, a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 12 years of experience in the industry.  He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also an Official Member of the Forbes Finance Council, a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.


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