Quick answer
On the rate sheet we quote from, $500,000 of 20-year term costs a 35-year-old non-smoker $32 to $37 a month in excellent health, or $51 to $61 in average health. Your age, your health and whether you smoke move the price far more than your state does.
Term life insurance costs less than most people think. On the rate sheet we quote from, a healthy 30-year-old non-smoker pays $24 to $32 a month for $500,000 of coverage that lasts 20 years. Wait until 50 and the same policy runs $101.08 to $126.50 a month, so the age you buy at matters more than anything else.
If that’s lower than you expected, you’re not alone. In the 2025 Insurance Barometer Study from LIMRA and Life Happens, healthy adults aged 18 to 30 guessed the price of a $250,000, 20-year policy at about 10 to 12 times what it really costs.
Below are real monthly prices by age for $250,000, $500,000 and $1 million, what the length of the term and smoking do to your price, and a simple way to work out how much coverage you need. If you’re still deciding whether term is the right kind of policy, our guide to term life insurance covers the basics.
Term life insurance rates by age
Your age moves your price more than anything else. As Washington’s insurance commissioner puts it, life insurance “is cheaper when you are young and gets more expensive as you age,” and your health history and choices like smoking play a big part too.
Here’s what $500,000 of 20-year term costs a month by age, for non-smokers in excellent and in average health:
| Age | Man, excellent health | Woman, excellent health | Man, average health | Woman, average health |
|---|---|---|---|---|
| 25 | $31.08 | $21.92 | $51.50 | $35.25 |
| 30 | $31.50 | $24.42 | $51.92 | $38.58 |
| 35 | $36.92 | $31.92 | $60.67 | $50.67 |
| 40 | $53.58 | $42.33 | $93.17 | $70.67 |
| 45 | $81.08 | $65.25 | $142.75 | $110.25 |
| 50 | $126.50 | $101.08 | $222.33 | $169.42 |
| 55 | $215.67 | $154.42 | $365.25 | $264.83 |
| 59 | $368.17 | $238.58 | $557.75 | $405.25 |
Monthly premiums from our own quote tool, pulled 19 September 2026 from one carrier’s partner rate sheet: $500,000 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.
Look at how slowly the price climbs through your 20s and early 30s, and how fast it moves after 40. A 25-year-old man in excellent health pays $31.08 a month. At 45 it’s $81.08, and at 55 it’s $215.67.
Health is the other big lever. “Excellent” and “average” are health classes, and the insurer decides which one you get after it looks at your application. At 40, average health costs a man $93.17 a month instead of $53.58.
What smaller and bigger policies cost
Coverage amount changes the price too, just not in a straight line. Going from $250,000 to $500,000 doesn’t double your premium, as the two tables below show.
What $250,000 of term life costs
A $250,000, 20-year policy is the one LIMRA used when it asked people to guess the price, so it makes a good benchmark. It can also be enough if you mostly want to cover a mortgage balance or a few years of income.
Here’s what $250,000 of 20-year term costs a month by age, for non-smokers in excellent and in average health:
| Age | Man, excellent health | Woman, excellent health | Man, average health | Woman, average health |
|---|---|---|---|---|
| 25 | $20.04 | $15.67 | $30.25 | $22.13 |
| 30 | $20.25 | $16.71 | $30.46 | $23.79 |
| 35 | $22.96 | $20.46 | $34.83 | $29.83 |
| 40 | $31.29 | $25.88 | $51.08 | $40.04 |
| 45 | $45.25 | $37.13 | $75.88 | $59.63 |
| 50 | $67.96 | $55.04 | $115.67 | $89.21 |
| 55 | $113.17 | $81.71 | $187.13 | $136.92 |
| 59 | $193.79 | $123.79 | $283.38 | $207.13 |
Monthly premiums from our own quote tool, pulled 19 September 2026 from one carrier’s partner rate sheet: $250,000 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, that’s $311 a year for a woman in excellent health and $375 a year for a man.
What $1,000,000 of term life costs
A million dollars sounds like a lot, but if you’re replacing a good income for 20 years or more, it can be the right size.
Here’s what $1,000,000 of 20-year term costs a month by age, for non-smokers in excellent and in average health:
| Age | Man, excellent health | Woman, excellent health | Man, average health | Woman, average health |
|---|---|---|---|---|
| 25 | $53.17 | $34.83 | $94.00 | $61.50 |
| 30 | $54.00 | $39.83 | $94.83 | $68.17 |
| 35 | $64.83 | $54.83 | $112.33 | $92.33 |
| 40 | $98.17 | $75.67 | $177.33 | $132.33 |
| 45 | $153.17 | $121.50 | $276.50 | $207.33 |
From age 50 the sheet won’t write $1,000,000 of 20-year term without an exam (the most it offers is $500,000), so the table stops at 45.
Monthly premiums from our own quote tool, pulled 19 September 2026 from one carrier’s partner rate sheet: $1,000,000 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.
How the term length changes your price
The longer you lock in your rate, the more you pay each month, since the policy has to cover you into older ages.
Here’s what a 35-year-old non-smoker pays each month for $500,000, by term length:
| Term | Man, excellent health | Woman, excellent health | Man, average health | Woman, average health |
|---|---|---|---|---|
| 10 years | $30.67 | $27.75 | $51.08 | $41.50 |
| 15 years | $32.75 | $28.58 | $54.83 | $45.25 |
| 20 years | $36.92 | $31.92 | $60.67 | $50.67 |
| 25 years | $37.49 | $30.72 | $71.74 | $56.30 |
| 30 years | $52.33 | $44.83 | $84.83 | $70.25 |
Monthly premiums from our own quote tool, pulled 19 September and 5 October 2026 from one carrier’s partner rate sheet: $500,000 of coverage, term lengths as shown, 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.
So for a 35-year-old man in excellent health, 10 years of $500,000 costs $30.67 a month and 30 years costs $52.33.
A longer term can still be the cheaper choice over time. Your premium stays the same for the whole term, but if you renew at the end, the new price is based on your age then. That’s why the Texas Department of Insurance suggests that “to help avoid higher premiums later, consider buying a policy with a longer term.”
A simple way to choose: match the term to your longest money commitment, like the years left on your mortgage or the years until your youngest finishes college. Texas regulators note that most people buy term “while they’re raising a family or have children in college.”
What smoking does to your price
Tobacco is the one habit that changes your price more than anything else you control.
Here’s $500,000 of 20-year term for the same people in average health, as non-smokers and as smokers:
| Age | Man, non-smoker | Man, smoker | Woman, non-smoker | Woman, smoker |
|---|---|---|---|---|
| 30 | $51.92 | $123.17 | $38.58 | $93.58 |
| 35 | $60.67 | $165.25 | $50.67 | $129.42 |
| 40 | $93.17 | $264.42 | $70.67 | $203.17 |
| 45 | $142.75 | $413.17 | $110.25 | $330.25 |
| 50 | $222.33 | $659.83 | $169.42 | $503.58 |
Monthly premiums from our own quote tool, pulled 19 September and 5 October 2026 from one carrier’s partner rate sheet: $500,000 of coverage, 20-year term, smokers and non-smokers in average health, 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, a man in average health pays $93 a month as a non-smoker and $264 as a smoker. For a woman it’s $71 against $203.
Whatever you answer about tobacco, answer it truthfully. The NAIC’s Life Insurance Buyer’s Guide warns that if an insurer finds false statements after it issues the policy, “it could reduce or cancel your coverage.”
How much does term life insurance cost per month?
From age 25 to 35, a healthy non-smoker pays $22 to $61 a month for $500,000 of 20-year term on the sheet we quote from, depending on age, sex and health. From 40 to 45 it’s $42 to $143 a month, and from 50 to 59 it’s $101 to $558 a month.
Those prices come from one carrier’s rate sheet before underwriting, so treat them as a starting point rather than an offer. To see prices for your own age, health and coverage, compare term life insurance quotes in one place.
What decides your price
Here’s what goes into the number an insurer gives you:
- Your age. The younger you are when you buy, the less you pay, and your price stays the same for the whole term.
- Tobacco. Smokers pay far more at every age, as the table above shows.
- Your health. Your medical history and what the insurer learns during underwriting decide your health class.
- The term length. A longer term costs more each month.
- The coverage amount. More coverage costs more, though not in a straight line.
- Your sex. On the sheet we quote from, women pay less than men at every age.
- How much the insurer asks about your health. The NAIC says a policy that “doesn’t require detailed health information will cost more and provide less coverage than one that does.”
- Dangerous jobs and hobbies. Some insurers charge more if your work or your weekends carry extra risk.
Does your state change the price?
Less than you’d think. When we priced the same 40-year-old man ($500,000, 20-year term, non-smoker) in all 51 jurisdictions in August 2026, 49 came back with the identical premium. North Dakota came back lower, and New York wasn’t offered at all. So a state-by-state chart would mostly repeat one number. What actually moves your price is your age, your health and whether you smoke, not your ZIP code.
How much term life coverage do you need?
The NAIC’s advice is that how much to buy “depends on the financial needs that will continue after your death,” like supporting your family, paying for your kids’ education and paying off a mortgage. Its buyer’s guide suggests asking yourself:
- Does anyone depend on me financially?
- How much of the family income do I provide?
- How will my family pay my final expenses and repay debts after my death?
- If I have life insurance through my employer, is it enough?
That last one trips up a lot of people. 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.”
Our life insurance calculator walks you through the same questions and gives you a number to start from. Every price on this page is for a policy where the premium stays the same for the whole term, which is how level term life insurance works.
How to pay less for term life
- Buy sooner. Every birthday nudges the price up, and your rate is locked once the policy starts.
- Pick the term you need. A 30-year term costs more each month than a 20-year one, so don’t pay for years you won’t use.
- Quit tobacco if you can. It’s the biggest price difference you control.
- Compare companies. Texas regulators put it simply: “Get quotes from several companies. Rates vary by company.” They also warn, “Don’t choose a policy on price alone.”
- Don’t drop old coverage first. The NAIC says, “Don’t cancel your current policy until you get the new one.”
- Use the free look. If you’re not happy with a new policy, you can usually return it for a full refund within a set period. The NAIC says that’s usually 10 days after you receive it.
Frequently asked questions
How much is term life insurance for a 50-year-old?
On the sheet we quote from, $500,000 of 20-year term costs a 50-year-old non-smoker $101.08 a month (woman) or $126.50 (man) in excellent health, and $169.42 or $222.33 in average health. For $250,000 it’s $55.04 or $67.96 in excellent health. The sheet won’t write $1 million at 50 without a medical exam.
Is term life cheaper than whole life?
Yes, for the same death benefit. The NAIC describes term as coverage “intended to provide lower cost coverage for a specific period of time,” and the Texas Department of Insurance says premiums for permanent life insurance are higher than for term. The trade-off is that most term policies don’t build up any cash value.
Does term life insurance go up every year?
Not during the term. Texas regulators explain that “premiums will stay the same for the entire term. They’ll go up if you renew at the end of the term,” because the new price is based on your age when you renew. That’s why a longer term can make sense if you’ll need the coverage for longer.
What happens if I outlive my term life policy?
The policy ends and nothing is paid out, unless you renew or convert it. Most term policies can be renewed at a higher premium, even if your health has changed. Some also let you convert to a permanent policy without a new medical exam, usually only until a set age, which Texas’s guide says is typically 65.
Is a life insurance payout taxed?
Usually not. The IRS says life insurance proceeds you receive as a beneficiary “aren’t includable in gross income and you don’t have to report them.” Interest is different: if the payout earns interest before you get it, that interest is taxable. There are exceptions too, such as a policy that was sold to you for cash.
Can I still buy term life after 60?
Often, yes. The Texas Department of Insurance says most companies offer term life only up to a certain age, “usually 70 or 80.” Prices climb quickly at that age, though, and the rate sheet behind this page only prices applicants under 60, so get a personal quote to see what’s available to you.
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.
- Where the sheet won't write an amount at an age without a medical exam, we leave that age out of the table instead of guessing.