When most people start shopping for life insurance, the first question they ask is simple:
“How much does term life insurance cost?”
The answer depends largely on your age, because insurers use age as one of the biggest predictors of life expectancy. The younger and healthier you are, the lower your term life insurance premium will be.
In this guide, we break down average term life insurance rates by age, explain what affects your cost, and show you how to get the best price—no matter where you are in life.
What Is Term Life Insurance? (Quick Overview)
Term life insurance provides coverage for a set number of years—usually 10, 20, or 30 years. If you pass away during that time, your beneficiaries receive the tax-free death benefit.
Term life insurance is:
- Simple
- Flexible
- Affordable
- The most popular type of life insurance in the U.S.
Because it has no cash value and is purely protection, it costs far less than whole life or universal life insurance.
Average Term Life Insurance Cost by Age (2025)
Below is a breakdown of average monthly premiums for a healthy, non-smoking male and female for a 20-year, $500,000 term life insurance policy.
Important: These rates are typical national averages across top carriers. Actual quotes may be higher or lower based on your health, lifestyle, and underwriting class.
Age 20–29: Best Rates of Your Lifetime
People in their 20s get the lowest term life insurance premiums because they have the longest life expectancy and the lowest risk of health problems.
Average Monthly Cost (20-Year Term, $500,000)
- Male: $18–$25/month
- Female: $14–$20/month
Why rates are low at this age:
- Excellent health
- Minimal medical history
- Lower likelihood of chronic illnesses
Securing a long term—like 30 years—locks in extremely low pricing for decades.
Age 30–39: Still Very Affordable (Most Popular Age to Buy)
The 30s are the most common time to buy life insurance because people often have children, mortgages, and growing financial responsibilities.
Average Monthly Cost (20-Year Term, $500,000)
- Male: $22–$32/month
- Female: $18–$28/month
Why rates rise in your 30s:
- Slight increase in health risks
- Weight changes
- Increased cholesterol and blood pressure risks
If you’re in your 30s and healthy, you can still lock in excellent long-term pricing.
Age 40–49: Midsize Rate Increase (When Many People Delay Too Long)
Your 40s bring the first noticeable jump in life insurance premiums.
Average Monthly Cost (20-Year Term, $500,000)
- Male: $35–$55/month
- Female: $28–$45/month
Common health factors at this age:
- Cholesterol or blood pressure medication
- BMI changes
- Early signs of chronic health conditions
The good news:
Most people in their 40s still qualify for preferred rates, especially if they maintain a healthy lifestyle.
Age 50–59: Rates Increase Significantly (But Coverage Is Still Available)
By your 50s, insurance companies view you as much closer to the end of the term. Pricing increases, but affordable options still exist—especially 10- or 15-year terms.
Average Monthly Cost (20-Year Term, $500,000)
- Male: $90–$150/month
- Female: $70–$120/month
Why pricing jumps:
- Higher risk of chronic health issues
- Prescription medications
- More medical events in applicant history
If cost is a concern, choosing a shorter term can help reduce premiums.
Age 60–69: Final Years of Eligibility for Traditional Term Life
During your 60s, rates rise sharply because the probability of passing during the term increases dramatically.
Average Monthly Cost (20-Year Term, $500,000)
- Male: $200–$350+/month
- Female: $160–$280+/month
Additional considerations:
- Many companies limit term lengths after age 65
- Some require full medical exams
- Health conditions cause much larger price swings
If you’re over 65, you may need to compare both term life and guaranteed universal life (GUL) to find the best fit.
Term Life Insurance Rates Drop Significantly for Smaller Coverage Amounts
Not everyone needs $500,000 in coverage.
Here are typical costs for a $250,000 20-year term, one of the most common coverage amounts:
Average Monthly Cost ($250,000, 20-Year Term)
- Age 30s → $12–$20/month
- Age 40s → $20–$35/month
- Age 50s → $40–$75/month
- Age 60s → $95–$180/month
If your budget is tight, reducing the coverage amount may get you insured without sacrificing financial protection.
What Affects the Cost of Term Life Insurance?
Your age is the biggest factor, but it’s not the only one.
Insurers also look at:
1. Health History
Cholesterol
Blood pressure
Medical conditions
Medications
BMI
2. Lifestyle
Tobacco use
Extreme sports
Driving record
3. Gender
Women statistically live longer → lower premiums.
4. Policy Type & Term Length
Longer terms = higher cost
Shorter terms = more affordable
5. Coverage Amount
Higher death benefit = higher premium
How to Get the Best Rates at Any Age
Here are expert-backed strategies that work for every applicant:
✔ Apply as early as possible
Every year you wait increases your premium by 4–10%.
✔ Choose a longer term while you’re young
20–30 years saves thousands over time.
✔ Avoid tobacco
Smoking can triple your premium.
✔ Compare multiple top-rated insurers
Each company has different health underwriting guidelines.
✔ Work with an independent agent
An independent broker (like Menke Insurance) can shop rates across dozens of carriers, helping you find the cheapest policy that fits your health profile.
Is Term Life Insurance Worth It?
Yes—term life insurance is the most affordable way to protect your family financially. Even at older ages, it offers a strong return on value because it provides:
- Financial security
- Income replacement
- Mortgage protection
- Peace of mind
For most households, term life insurance is the foundation of a strong financial plan.
Get a Personalized Term Life Insurance Quote
Your exact rate depends on your age, health, and goals.
If you want a free, no-obligation quote, Menke Insurance can compare rates from top national carriers and help you determine the right amount of coverage.