Cost Guide Last reviewed: 2026-10-03 Part of What it costs

Term Life Insurance Cost by Age: 2026 Ballpark

Written and reviewed by Hans Goldstein, licensed insurance producer, NPN 20602398 · CA Insurance License #4273294
Last reviewed October 3, 2026 · Published October 3, 2026

Short answer: a preferred nonsmoker pays roughly $25 to $43 a month at age 40 for $250,000 to $500,000 of 20-year term, and about $149 to $268 a month at age 60 for the same coverage (men; women pay less). Age is the biggest factor, and it only gets worse with waiting. These are dated survey ballparks, not quotes.

20-year term cost by age and face amount

Monthly premium, 20-year level term, preferred nonsmoker

Age	$250,000 F / M	$500,000 F / M	$1,000,000 F / M
20	$15 / $19	$23 / $29	$34 / $48
30	$15 / $18	$23 / $29	$37 / $49
40	$22 / $25	$35 / $43	$61 / $75
50	$44 / $57	$78 / $102	$139 / $188
60	$108 / $149	$194 / $268	$355 / $500

Source: Policygenius, average of 11 insurers plus its price index, rate illustration valid as of 9/1/2024. Ballpark, not a quote.

Other published surveys put the same man higher or lower; health class, insurer mix and date all differ, which is why Hans runs real quotes.

20-year term monthly premium, at your exact age and health class: published surveys do not cover every age, class and face amount, so instead of empty cells or guesses, Hans runs real quotes from several insurers for you.

Get your exact number in 15 minutes on a 1:1 call with Hans. He runs real quotes from several insurers for your age, health and state.

Why the midpoint column matters

No policy performs exactly as illustrated. Real results usually land somewhere between the guaranteed column and the illustrated (current) column: some years credit less than assumed, charges can move within their limits, and premiums are rarely paid exactly on schedule. That is why the midpoint column, halfway between the two, is the most useful planning number, and why Hans shows guaranteed, midpoint and current side by side.

The price jump after the level period

A level term premium is level only for the term. After that, most policies renew year by year at much higher rates. In one Pacific Life illustration (male 45, $250,000), the premium was $372 a year for 20 years, then $10,210 at year 21, about 27 times higher, and $55,753 at age 80 (Pacific Life sample illustration). That is why the conversion option matters more than a few dollars of premium (what happens when term ends, term conversion).

Exam or no exam? Hans's rule of thumb

Start: what are you buying, and can you sit for a 30-minute paramed exam?

Premium around $300 to $700 a month, healthy with nothing to hide, and the goal is protection (death benefit, not cash value)

Take the paramed exam. Full underwriting usually prices better.

The goal is cash value on a small premium

Weigh the paramed route's minimum face (often $50,000 to $100,000) and its COI drag against express IULs, which cap the face and offer fewer health classes. Talk to Hans first.

OTR truck driver, or anyone who cannot sit for an exam

No-exam is fine. Coverage now beats waiting.

A rule of thumb, not a quote. Paramed vs no-exam: the full trade-off.

Accelerated underwriting (no exam, but the same rate table as full underwriting if you qualify) is different from simplified issue, which costs more per unit of coverage (Society of Actuaries, 2020 simplified issue underwriting report, 2020). There is no public side-by-side of a standard-class full-underwriting quote against a simplified-issue quote for the same person, so ask for both (paramed vs no exam).

Real numbers

What would term cost you today?

Send your email and Hans will send real term quotes for your age and health within one business day.

We’ll email it to you. Hans Goldstein · NPN 20602398.

Rather talk it through? Or book 15 minutes on Hans’s calendar.

Term or permanent?

Term makes sense when...

You are a disciplined saver who really does invest the difference, every month, for decades.
The premium is small enough that you will not miss it (around $100 a month), so it will not lapse.
The need is temporary: a mortgage payoff, kids until they are independent, income replacement through your working years, a business loan or a key person for a set term.
You need a big death benefit on a tight budget right now, as with a young family.
You want to lock in your health now with convertible term and convert part of it to permanent later (how term conversion works).

Permanent makes sense when...

Forced savings helps you: a premium you pay like a bill builds cash value you would not have saved on your own.
You want coverage that lasts your whole life, not just 20 or 30 years.
There is an estate or ILIT purpose: liquidity for estate tax, equalizing heirs, or a trust (ILIT guide).
Cash value is a goal and you can fund it properly for 15+ years (max-funded IUL).
You are healthy and under about 55, so the cost of insurance has decades to stay low while cash value builds.

Get your exact number in 15 minutes on a 1:1 call with Hans. He runs real quotes from several insurers for your age, health and state.

Get your exact number in 15 minutes

Hans compares term from several insurers for your age, health and state, and checks the conversion deadline before you buy.

Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.

Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer

Frequently asked questions

How much is term life insurance per month by age?

In the Policygenius survey (valid as of 9/1/2024), a preferred nonsmoking man paid about $29 a month for $500,000 of 20-year term at 30, $43 at 40, $102 at 50 and $268 at 60. Women paid less. Ballpark, not a quote.

How much is a $1,000,000 term policy?

For a preferred nonsmoking man age 40, the Policygenius survey (valid as of 9/1/2024) put 20-year term at about $75 a month. Average health costs more. Ballpark, not a quote.

What happens to the price after the level term ends?

Most policies renew annually at much higher rates. In one Pacific Life illustration the premium went from $372 a year to $10,210 at year 21. Converting before the deadline is usually the better option.

Is no-exam term more expensive?

Simplified issue products cost more per unit of coverage, according to a 2020 Society of Actuaries study. Accelerated underwriting can skip the exam at the same rates as full underwriting if you qualify. Ask for both quotes.

How do I get an exact term quote?

Book a 15-minute call with Hans. He compares several insurers for your age, health and state and checks the conversion options.

Sources

Hans Goldstein, CA Insurance License #4273294 · NPN 20602398 · Goldstein & Co. LLC dba Goldstein Insurance Services, CA License #6016830

Contact: hans@hansgoldstein.com · 213-414-2808

General education, not tax or legal advice. Tax treatment depends on your facts and on current law, which can change. Talk to your CPA or estate attorney. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Guarantees apply only to the contractual terms of the policy. Caps, participation rates, loan rates, charges and dividends are not guaranteed and can change. Hans is paid a commission by the insurer if you buy a policy through him. For life insurance, ask and he will tell you what he earns on your specific policy. Product and company names are trademarks of their owners. Goldstein Insurance Services is an independent agency, not affiliated with or endorsed by any insurer named here. Life insurance requires underwriting; not everyone qualifies. This page describes products in general terms; read the policy and the insurer's disclosures before you buy.