Quick answer
On the rate sheet we quote from, $400,000 of 20-year no-exam term costs a healthy 30-year-old non-smoker $21 to $27 a month, and $36 to $45 at 40. Skipping the exam puts more weight on your application answers, so fill them in carefully.
On the rate sheet we quote from, $400,000 of 20-year no-exam term costs a healthy 30-year-old non-smoker $21 (woman) to $27 (man) a month. At 40 it’s $36 to $45 a month, and at 50 it’s $83 to $103 a month.
If that’s less than you expected, you’re in good company. In the 2026 Insurance Barometer Study from Life Happens and LIMRA, perceived cost was the top reason people gave for not having life insurance, at 45%. Below are real prices by age, what you skip by going without an exam, and why your application carries more weight when you do. For the basics of how term works, start with our guide to term life insurance.
What $400,000 of no-exam term costs by age
These are 20-year level term prices for non-smokers, before underwriting.
Here’s what $400,000 of 20-year term costs a month by age if you’re in excellent health and don’t smoke:
| Age | Man, excellent health | Woman, excellent health |
|---|---|---|
| 25 | $26.67 | $19.67 |
| 30 | $27.00 | $21.33 |
| 35 | $31.33 | $27.33 |
| 40 | $44.67 | $36.00 |
| 45 | $67.00 | $54.00 |
| 50 | $103.33 | $82.67 |
| 55 | $175.67 | $125.33 |
| 59 | $304.67 | $192.67 |
Monthly premiums from our own quote tool, pulled 5 October 2026 from one carrier’s partner rate sheet: $400,000 of coverage, 20-year term, non-smoker, Georgia ZIP. That sheet priced 49 of 51 jurisdictions identically when we checked all of them in August 2026 (North Dakota came back lower; New York isn’t offered). These are rate-sheet prices before underwriting, not a final offer.
A 35-year-old man in excellent health pays $31.33 a month. At 45 it’s $67.00, and at 55 it’s $175.67. A woman the same age pays less at every step.
If your health is average
The insurer places you in a health class after it reviews your application, so it’s worth seeing the price one class down.
Here’s the same $400,000, 20-year policy in average health:
| Age | Man, average health | Woman, average health |
|---|---|---|
| 25 | $43.00 | $30.00 |
| 30 | $43.33 | $32.67 |
| 35 | $50.33 | $42.33 |
| 40 | $76.33 | $58.67 |
| 45 | $116.00 | $90.00 |
| 50 | $179.67 | $137.33 |
| 55 | $294.00 | $213.67 |
| 59 | $448.00 | $326.00 |
Monthly premiums from our own quote tool, pulled 5 October 2026 from one carrier’s partner rate sheet: $400,000 of coverage, 20-year term, non-smoker, Georgia ZIP. That sheet priced 49 of 51 jurisdictions identically when we checked all of them in August 2026 (North Dakota came back lower; New York isn’t offered). These are rate-sheet prices before underwriting, not a final offer.
At 40, average health costs a man $76.33 a month instead of $44.67, and a woman $58.67 instead of $36.00.
What you skip by going without an exam
A traditional life insurance exam isn’t a big ordeal, but it does slow things down. Life Happens describes it as taking your vital signs, collecting blood and urine samples, and going over your and your family’s medical history, sometimes with a treadmill test or an EKG. The exam itself “should take less than 30 minutes,” but it “usually takes at least a few weeks to find out if you’re offered coverage.”
With no exam, you answer health questions instead, and the insurer checks outside records. The NAIC says this kind of accelerated underwriting can cut the process “from several weeks to just a few hours.” It also says it “does not always lead to issuance of a policy,” so a few applicants are still asked to take the exam.
The trade-off is price. The NAIC’s buyer’s guide says that “usually a policy that doesn’t require detailed health information will cost more and provide less coverage than one that does.”
Why your answers matter more without an exam
When there’s no blood test, your application does the talking, so it gets checked. Insurers look at your prescription history, your driving record and your file at MIB, Inc., which the CFPB says collects information about medical conditions and hazardous hobbies for life insurers, with your permission.
Mistakes can cost your family later. The Texas Department of Insurance explains that life insurance policies have a two-year contestable period. If you die within it, the insurer can review your application and deny payment if you gave wrong information or left something out, “even if the wrong information was unrelated to the cause of death or was given by mistake.” If it denies payment, it has to return the premiums.
So take your time on the health questions, and check your MIB file first if you’re not sure what’s in it. The CFPB says you can get one free report every 12 months and dispute anything that’s wrong.
Who a $400,000 policy fits
A $400,000 policy suits a lot of households with a mortgage and kids at home. It can pay off the house, cover a few years of income, or fill the gap above the life insurance you get through work.
That gap is easy to miss. The Texas Department of Insurance says a basic group policy through your job “usually has a death benefit equal to one or two times your annual salary,” and it “typically ends when you leave your job.”
If you want a little more cushion, here’s what $450,000 of no-exam term costs.
Ways to keep the price down
- Buy sooner. Washington’s insurance commissioner warns that if you wait, “you could develop a health problem, which could cause the rates to go up.”
- Pick a term that fits. A longer term costs more each month, but the Texas Department of Insurance suggests a longer term “to help avoid higher premiums later,” since renewing at the end is priced at your older age.
- Quit tobacco. Your habits are one of the things insurers price on, and Life Happens lists smoking among the reasons people are turned down.
- Compare companies. Texas regulators put it simply: “Get quotes from several companies. Rates vary by company.”
How to apply online
You can apply online, through an agent or by mail. On a no-exam application you answer health questions, and depending on your answers you may be offered coverage right away. If you aren’t, Life Happens says a decision usually takes days, not weeks.
Don’t cancel any policy you already have until the new one is in force; the NAIC says the same. And if you change your mind after the policy arrives, you can usually return it for a full refund within about 10 days.
When you’re ready, compare term life insurance quotes for your own age, health and coverage.
Frequently asked questions
How much is a $400,000 life insurance policy per month?
On the sheet we quote from, $400,000 of 20-year no-exam term costs a non-smoker in excellent health $21.33 to $27.00 a month at 30, $36.00 to $44.67 at 40, and $82.67 to $103.33 at 50. Average health costs more, as the second table shows.
Do I need a medical exam for $400,000 of coverage?
Usually not. In the Society of Actuaries’ 2022 accelerated underwriting survey of 24 insurers, the most common no-exam maximum was $1,000,000 and the most common issue ages were 18 to 60. An insurer can still ask for an exam if your records leave questions.
What happens if I miss a payment?
You don’t lose the policy right away. The Texas Department of Insurance says most policies have a 31-day grace period after the due date. If you still don’t pay, the policy lapses, though most companies will reinstate it within five years if you pay the overdue premium with interest, and you might have to answer health questions or take an exam.
Can the insurer refuse to pay because of a mistake on my application?
During the first two years, it can. That’s the contestable period, and Texas regulators say a denial can happen even when the wrong answer was given by mistake or had nothing to do with the cause of death. That’s why it pays to check your answers before you sign.
How we got these numbers
- Every premium on this page comes from our own life quote tool, which prices from one carrier's partner rate sheet. Each table says the day its prices were pulled.
- We priced a Georgia ZIP. When we priced the same applicant in all 51 jurisdictions in August 2026, 49 came back identical; North Dakota came back lower and New York isn't offered.
- Excellent and average are the rate sheet's own health classes. These are prices before underwriting, so the offer you get after an insurer reviews your application can be different.