Term Life Insurance Rates By Age Charts (2026 Prices)

10-Year Term Life Insurance Rate Charts

Age	Female	Male
20	$7	$8
25	$7	$8
30	$7	$8
35	$7	$8
40	$8	$8
45	$9	$10
50	$11	$13
55	$15	$17
60	$19	$25
65	$28	$37
70	$39	$51
75	$68	$93
Monthly rates are calculated at a preferred non-tobacco rating for a 10-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$8	$8
25	$8	$8
30	$8	$8
35	$8	$8
40	$8	$9
45	$10	$11
50	$13	$14
55	$17	$21
60	$24	$30
65	$34	$44
70	$56	$82
75	$98	$138
80	$198	$252
Monthly rates are calculated at a preferred non-tobacco rating for a 10-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$8	$10
25	$8	$10
30	$9	$10
35	$9	$10
40	$11	$12
45	$15	$17
50	$20	$23
55	$28	$37
60	$39	$58
65	$67	$99
70	$108	$169
75	$224	$329
80	$486	$621
Monthly rates are calculated at a preferred non-tobacco rating for a 10-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$11	$13
25	$11	$13
30	$11	$13
35	$11	$13
40	$15	$17
45	$23	$27
50	$32	$40
55	$49	$66
60	$72	$109
65	$122	$187
70	$197	$313
75	$417	$614
80	$966	$1,236
Monthly rates are calculated at a preferred non-tobacco rating for a 10-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$12	$16
25	$12	$16
30	$12	$16
35	$14	$17
40	$19	$23
45	$31	$36
50	$45	$56
55	$71	$96
60	$105	$160
65	$180	$277
70	$293	$465
75	$622	$917
80	$1446	$1850
Monthly rates are calculated at a preferred non-tobacco rating for a 10-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$15	$18
25	$15	$18
30	$15	$18
35	$16	$19
40	$24	$26
45	$37	$45
50	$56	$69
55	$90	$121
60	$135	$206
65	$223	$356
70	$368	$589
75	$782	$1,169
80	$1,914	$2,355
Monthly rates are calculated at a preferred non-tobacco rating for a 10-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$20	$24
25	$20	$24
30	$20	$24
35	$21	$26
40	$33	$37
45	$53	$64
50	$82	$100
55	$131	$177
60	$200	$280
65	$331	$530
70	$549	$880
75	$1170	$1749
80	$2867	$3529
Monthly rates are calculated at a preferred non-tobacco rating for a 10-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$24	$30
25	$24	$30
30	$25	$30
35	$27	$33
40	$42	$47
45	$69	$84
50	$107	$132
55	$172	$234
60	$264	$371
65	$440	$705
70	$730	$1171
75	$1558	$2335
80	$3821	$4703
Monthly rates are calculated at a preferred non-tobacco rating for a 10-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

15-Year Term Life Insurance Rate Charts

Age	Female	Male
20	$7	$8
25	$7	$8
30	$7	$8
35	$8	$8
40	$9	$9
45	$10	$12
50	$13	$15
55	$17	$21
60	$24	$33
65	$38	$49
70	$57	$73
Monthly rates are calculated at a preferred non-tobacco rating for a 15-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$8	$8
25	$8	$8
30	$8	$8
35	$8	$8
40	$9	$9
45	$11	$13
50	$14	$18
55	$19	$25
60	$29	$39
65	$45	$67
70	$72	$105
Monthly rates are calculated at a preferred non-tobacco rating for a 15-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$9	$10
25	$9	$10
30	$9	$10
35	$10	$11
40	$13	$13
45	$17	$21
50	$24	$30
55	$33	$45
60	$53	$75
65	$90	$132
70	$160	$249
Monthly rates are calculated at a preferred non-tobacco rating for a 15-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$12	$14
25	$12	$14
30	$12	$14
35	$13	$15
40	$19	$20
45	$28	$35
50	$41	$53
55	$59	$84
60	$94	$142
65	$168	$256
70	$304	$475
Monthly rates are calculated at a preferred non-tobacco rating for a 15-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$14	$18
25	$14	$18
30	$15	$18
35	$17	$20
40	$25	$27
45	$38	$49
50	$57	$76
55	$84	$123
60	$138	$211
65	$249	$382
70	$453	$709
Monthly rates are calculated at a preferred non-tobacco rating for a 15-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$17	$21
25	$17	$21
30	$18	$22
35	$20	$27
40	$31	$33
45	$48	$63
50	$73	$99
55	$109	$160
60	$178	$276
65	$310	$474
70	$559	$911
Monthly rates are calculated at a preferred non-tobacco rating for a 15-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$23	$29
25	$23	$29
30	$24	$30
35	$27	$34
40	$45	$48
45	$39	$90
50	$106	$146
55	$160	$237
60	$264	$411
65	$463	$708
70	$836	$1363
Monthly rates are calculated at a preferred non-tobacco rating for a 15-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$29	$37
25	$29	$37
30	$30	$38
35	$35	$43
40	$57	$62
45	$89	$118
50	$139	$192
55	$211	$314
60	$349	$546
65	$615	$942
70	$1113	$1816
Monthly rates are calculated at a preferred non-tobacco rating for a 15-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

20-Year Term Life Insurance Rate Charts

Age	Female	Male
20	$7	$8
25	$7	$8
30	$7	$8
35	$8	$9
40	$9	$10
45	$11	$13
50	$15	$19
55	$21	$27
60	$31	$43
65	$52	$67
Monthly rates are calculated at a preferred non-tobacco rating for a 20-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$11	$12
25	$11	$12
30	$11	$12
35	$12	$12
40	$14	$16
45	$19	$21
50	$25	$31
55	$34	$45
60	$58	$72
65	$99	$125
Monthly rates are calculated at a preferred non-tobacco rating for a 20-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$13	$15
25	$13	$15
30	$13	$15
35	$15	$16
40	$20	$23
45	$28	$35
50	$40	$52
55	$60	$79
60	$112	$147
65	$189	$267
Monthly rates are calculated at a preferred non-tobacco rating for a 20-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$20	$24
25	$20	$24
30	$20	$24
35	$22	$26
40	$32	$37
45	$47	$59
50	$69	$93
55	$108	$148
60	$189	$274
65	$355	$516
Monthly rates are calculated at a preferred non-tobacco rating for a 20-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$19	$23
25	$19	$23
30	$20	$24
35	$22	$26
40	$32	$38
45	$50	$64
50	$78	$100
55	$119	$164
60	$207	$295
65	$383	$564
Monthly rates are calculated at a preferred non-tobacco rating for a 20-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$34	$41
25	$34	$41
30	$34	$41
35	$37	$45
40	$54	$67
45	$85	$111
50	$127	$177
55	$202	$287
60	$360	$517
65	$686	$938
Monthly rates are calculated at a preferred non-tobacco rating for a 20-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$28	$40
25	$28	$40
30	$31	$40
35	$39	$45
40	$57	$70
45	$95	$123
50	$140	$189
55	$232	$319
60	$390	$565
65	$735	$1092
Monthly rates are calculated at a preferred non-tobacco rating for a 20-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$34	$51
25	$34	$51
30	$39	$52
35	$50	$59
40	$74	$91
45	$124	$161
50	$184	$250
55	$306	$424
60	$521	$752
65	$979	$1450
Monthly rates are calculated at a preferred non-tobacco rating for a 20-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

25-Year Term Life Insurance Rate Charts

Age	Female	Male
20	$9	$11
25	$9	$11
30	$10	$11
35	$10	$12
40	$12	$15
45	$16	$20
50	$21	$29
55	$31	$45
60	$64	$85
Monthly rates are calculated at a preferred non-tobacco rating for a 25-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$11	$12
25	$11	$12
30	$11	$13
35	$12	$14
40	$15	$19
45	$20	$27
50	$29	$41
55	$44	$65
60	$92	$124
Monthly rates are calculated at a preferred non-tobacco rating for a 25-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$13	$15
25	$13	$15
30	$13	$15
35	$16	$18
40	$20	$24
45	$29	$37
50	$44	$58
55	$68	$98
60	$149	$199
Monthly rates are calculated at a preferred non-tobacco rating for a 25-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$18	$23
25	$19	$23
30	$20	$25
35	$24	$28
40	$33	$42
45	$49	$64
50	$78	$102
55	$126	$185
60	$263	$378
Monthly rates are calculated at a preferred non-tobacco rating for a 25-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$24	$31
25	$25	$31
30	$27	$33
35	$32	$38
40	$45	$59
45	$70	$92
50	$112	$150
55	$184	$275
60	$393	$565
Monthly rates are calculated at a preferred non-tobacco rating for a 25-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$28	$40
25	$28	$40
30	$32	$42
35	$42	$50
40	$59	$76
45	$91	$119
50	$146	$198
55	$244	$352
60	$503	$675
Monthly rates are calculated at a preferred non-tobacco rating for a 25-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$39	$57
25	$39	$57
30	$45	$61
35	$60	$72
40	$87	$111
45	$134	$176
50	$216	$294
55	$363	$525
60	$752	$1009
Monthly rates are calculated at a preferred non-tobacco rating for a 25-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$49	$74
25	$49	$74
30	$58	$79
35	$78	$94
40	$113	$146
45	$176	$233
50	$286	$391
55	$482	$698
60	$1001	$1344
Monthly rates are calculated at a preferred non-tobacco rating for a 25-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

30-Year Term Life Insurance Rate Charts

Age	Female	Male
20	$8	$9
25	$8	$9
30	$8	$9
35	$9	$10
40	$11	$13
45	$15	$18
50	$21	$26
55	$31	$41
Monthly rates are calculated at a preferred non-tobacco rating for a 30-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$13	$15
25	$13	$15
30	$13	$15
35	$15	$17
40	$18	$21
45	$24	$30
50	$37	$48
55	$61	$92
Monthly rates are calculated at a preferred non-tobacco rating for a 30-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$18	$22
25	$18	$22
30	$18	$22
35	$21	$25
40	$28	$34
45	$42	$53
50	$65	$87
55	$114	$161
Monthly rates are calculated at a preferred non-tobacco rating for a 30-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$29	$35
25	$29	$35
30	$29	$36
35	$35	$42
40	$50	$62
45	$73	$97
50	$117	$161
55	$220	$312
Monthly rates are calculated at a preferred non-tobacco rating for a 30-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$30	$38
25	$30	$38
30	$32	$40
35	$39	$47
40	$54	$70
45	$84	$110
50	$136	$182
55	$256	$339
Monthly rates are calculated at a preferred non-tobacco rating for a 30-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$50	$61
25	$50	$61
30	$52	$62
35	$63	$76
40	$91	$115
45	$139	$179
50	$221	$306
55	$429	$594
Monthly rates are calculated at a preferred non-tobacco rating for a 30-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$47	$65
25	$47	$65
30	$54	$72
35	$71	$90
40	$104	$131
45	$165	$214
50	$264	$353
55	$471	$667
Monthly rates are calculated at a preferred non-tobacco rating for a 30-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$60	$84
25	$60	$84
30	$70	$94
35	$93	$118
40	$136	$172
45	$218	$283
50	$349	$468
55	$626	$888
Monthly rates are calculated at a preferred non-tobacco rating for a 30-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

40-Year Term Life Insurance Rate Charts

Age	Female	Male
20	$15	$17
25	$15	$17
30	$15	$19
35	$17	$20
40	$23	$28
45	$34	$42
Monthly rates are calculated at a preferred non-tobacco rating for a 40-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$19	$21
25	$19	$21
30	$19	$24
35	$22	$26
40	$30	$37
45	$47	$59
Monthly rates are calculated at a preferred non-tobacco rating for a 40-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$20	$25
25	$20	$25
30	$22	$29
35	$29	$38
40	$48	$61
45	$76	$96
Monthly rates are calculated at a preferred non-tobacco rating for a 40-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$33	$42
25	$33	$42
30	$38	$53
35	$52	$70
40	$90	$112
45	$145	$185
Monthly rates are calculated at a preferred non-tobacco rating for a 40-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$46	$59
25	$46	$59
30	$54	$76
35	$74	$101
40	$131	$165
45	$214	$274
Monthly rates are calculated at a preferred non-tobacco rating for a 40-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$56	$71
25	$56	$71
30	$71	$101
35	$92	$134
40	$173	$219
45	$284	$364
Monthly rates are calculated at a preferred non-tobacco rating for a 40-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$81	$103
25	$81	$103
30	$104	$149
35	$135	$198
40	$257	$325
45	$423	$544
Monthly rates are calculated at a preferred non-tobacco rating for a 40-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

Age	Female	Male
20	$106	$135
25	$106	$135
30	$137	$196
35	$177	$262
40	$341	$431
45	$562	$722
Monthly rates are calculated at a preferred non-tobacco rating for a 40-year term, rounded to the nearest dollar, and are valid as of 03/09/2026.

How Does Term Life Insurance Work?

Term life insurance is a type of policy that will terminate after a set period of time. When the policy ends, you’re no longer insured. A term policy typically lasts for a set number of years, such as 10, 15, 20, 25, or 30. Conversely, a term policy may last until you reach a certain age, such as 80 or 85.

Unless you buy a term policy with a return of premium riderReturn of Premium Rider
A rider that will refund all premiums paid at the end of the policy term. It's uncommon for insurers to offer these riders, and they will significantly increase the policy's cost., the insurance company will keep your money when the policy ends.

Which Factors Determine The Cost Of Term Life Insurance?

The cost of term life insurance is based on the following factors:

Gender: According to the CDC, a woman’s life expectancy in the USA is 81.1 years, compared to 75.8 for men. Because women typically live longer, they pay less for life insurance products. The only exception to this rule is for those living in Montana, where state law prohibits insurers from charging different rates based on gender. As a result, women in Montana are charged the same rate as men (which means they pay much more than they would had they lived in any other state).
Age: The older a person is, the higher the life insurance premiums will be.
Health history: Health issues, depending on the details, can and often do cause insurers to charge you more because they result in a higher risk. Keep in mind that it depends on your conditions, the timing and severity, and how faithfully you follow your doctor’s prescribed treatment plan.
Tobacco or nicotine habits: If you smoke cigarettes, you will pay 40-80% higher premiums. If you use other forms of tobacco or nicotine, you’ll likely face higher rates, but not always. For example, some insurers offer non-tobacco rates to cigar smokers.
Alcohol habits: Low to moderate alcohol consumption won’t affect your rate. However, if you have a history of abuse or consume high amounts regularly, expect a higher price.
Lifestyle: If you work in a high-risk profession, such as being a police officer or crane operator, some insurers will impose a surcharge. For people who engage in high-risk activities such as skydiving, racing, or mountain climbing, premiums may be higher.
Amount of coverage: The more coverage you buy, the higher the price.
Term length: The longer the term, the higher the price. For example, a 15-year term will cost less than a 25-year term.
Type of underwriting: If you opt for a medical exam, the price will very likely be lower compared to one that does not.
Policy riders: Optional coverage enhancements will cost more. The cost is typically minimal, but it depends on the rider type. For example, an accidental death riderAccidental Death Rider
The insurer will pay out double the death benefit if the insured dies from an accident. will usually only cost an additional $5-$10 monthly. In contrast, a long-term care riderLong Term Care Rider
Provides regular payouts to cover long-term care costs if the insured is diagnosed with a condition that warrants long-term care. A long-term care rider will usually trigger an additional underwriting questionnaire beyond the standard life insurance application questions. will cost hundreds of dollars per month.

Term Life Insurance Rates Vs. Whole Life Insurance Rates

Cost is one of the biggest differences between term and whole life insurance. Term life insurance rates will always be lower than whole life insurance rates (for the same amount of coverage).

Whole life insurance premiums are higher because A) it’s permanent coverage, whereas term expires, and B) it builds cash value, whereas term does not.

Age & Gender	Term Life	Whole Life
Female age 20	$4	$27
Male age 20	$5	$31
Female age 30	$5	$37
Male age 30	$6	$47
Female age 40	$6	$53
Male age 40	$7	$61
Female age 50	$7	$80
Male age 50	$10	$92
Female age 60	$15	$134
Male age 60	$21	$154
Female age 70	$37	$240
Male age 70	$49	$274
Female age 80	$145	$466
Male age 80	$196	$515
Monthly rates are calculated at a preferred non-tobacco rating. Term coverage quotes are for a 10-year term. All prices are rounded to the nearest dollar and are valid as of 03/09/2026.

Age & Gender	Term Life	Whole Life
Female age 20	$10	$54
Male age 20	$10	$62
Female age 30	$10	$74
Male age 30	$11	$84
Female age 40	$11	$105
Male age 40	$12	$123
Female age 50	$17	$160
Male age 50	$20	$186
Female age 60	$30	$270
Male age 60	$43	$308
Female age 70	$75	$481
Male age 70	$98	$549
Female age 80	$292	$933
Male age 80	$393	$1,030
Monthly rates are calculated at a preferred non-tobacco rating. Term coverage quotes are for a 10-year term. All prices are rounded to the nearest dollar and are valid as of 03/09/2026.

Age & Gender	Term Life	Whole Life
Female age 20	$12	$126
Male age 20	$12	$144
Female age 30	$12	$176
Male age 30	$12	$202
Female age 40	$15	$253
Male age 40	$17	$297
Female age 50	$24	$391
Male age 50	$29	$455
Female age 60	$52	$664
Male age 60	$74	$761
Female age 70	$151	$1,193
Male age 70	$214	$1,364
Female age 80	$607	$2,323
Male age 80	$875	$2,567
Monthly rates are calculated at a preferred non-tobacco rating. Term coverage quotes are for a 10-year term. All prices are rounded to the nearest dollar and are valid as of 03/09/2026.

Age & Gender	Term Life	Whole Life
Female age 20	$14	$243
Male age 20	$16	$278
Female age 30	$14	$342
Male age 30	$16	$393
Female age 40	$22	$496
Male age 40	$26	$583
Female age 50	$42	$768
Male age 50	$51	$895
Female age 60	$96	$1,310
Male age 60	$140	$1,500
Female age 70	$254	$2,356
Male age 70	$393	$2,694
Female age 80	$1,201	$4,593
Male age 80	$1,680	$5,076
Monthly rates are calculated at a preferred non-tobacco rating. Term coverage quotes are for a 10-year term. All prices are rounded to the nearest dollar and are valid as of 03/09/2026.

How To Qualify For A Term Life Policy & The Impact On The Cost

To qualify for a term life policy, you have two options: simplified issue and fully underwritten.

Simplified issue or accelerated underwriting (no exam)

No medical exam is required. Instead, you only answer questions about your health and lifestyle. Additionally, the insurer will obtain some medical information about you from electronic databases such as MIB and Milliman. Depending on the insurer, these options may be described as simplified issueSimplified Issue
Simplified issue underwriting is essentially the same as accelerated underwriting except for A) there are fewer health questions to answer, B) approvals are faster, and C) they often accept more risky applicants. The insurer still gathers health and lifestyle information about you via various databases. That information, along with your answers to the health questions, is fed into an algorithm that determines if you're approved. or accelerated underwritingAccelerated Underwriting
The insurance company taps into databases containing information about your health history, which is all fed into their algorithm. This data, along with your answers to various health and lifestyle questions, allows you to skip the lab tests and physical exam. Ultimately, the insurance company’s algorithm determines if you’re approved and what final price you’ll pay..

In some cases, the insurer may request a statement from your physician to explain something that popped up in your health history, but it’s relatively uncommon. The main advantage of no-exam products is the fast approval. Usually, simplified applications are approved instantly or within a few business days.

The trade-off is that the cost is slightly to moderately higher because the insurance company does not have your full medical records or recent lab results. This boosts their risk, which is why the cost is higher than for a fully underwritten policy.

Fully underwritten (with an exam)

First, you will be required to meet with a medical professional at a location of your choice. They will take your blood pressure, measure your height and weight, and ask you a wide array of health and lifestyle questions. They will also collect blood and urine samples. Finally, the insurance company will send formal requests to all physicians you’ve seen in the last decade.

Once they have processed all this data, they will determine whether you’re approved and the final price. This entire process often takes 4-6 weeks to complete. The main advantage of a fully underwritten policy is the lower cost. Because the insurer knows everything (in detail) about your health, they take on less risk, which is why the insurance costs less.

Don't Forget

No insurance companies offer guaranteed issue term life policies.

Frequently Asked Questions

What is the average cost of a term life policy?

A $100,000 term life policy will cost approximately $10-$75 per month for a 10-year term, whereas a $250,000 10-year term policy will cost roughly $12-$100 per month. Ultimately, term life insurance premiums depend on several factors, including your age, gender, health, and the amount of coverage you choose.

Does term life insurance premium increase with age?

Most term life policies have a fixed premium for the entire policy duration. However, some companies, such as Globe Life and the AARP Life Insurance Program, offer term policies with premium increases every 5 years.

Is term life insurance cheaper than universal life insurance?

Yes, term life insurance is always cheaper than universal life. A universal life policy is a form of permanent coverage. Term policies expire at some point, which is why they cost less; they also don’t accumulate cash value like universal life does.

What happens when a term life policy ends?

When a term life insurance policy ages out, the coverage ends, and the insurer keeps the premiums you’ve paid through the years. Usually, you can renew the policy at the end or convert it to whole life insurance before it formally expires.

If you renew or convert a term life policy, does the price go up?

If you renew a term policy, the price will be much higher than it was before. The same is true if you decide to convert a term policy to a whole life policy. Whole life insurance policies usually cost 2-10 times as much as term life insurance. Plus, when you convert the policy, the insurer bases the price on your current age. Now you’re older than when you first bought the term policy, which also contributes to the higher price.

Anthony Martin

Choice Mutual CEO & Writer

Author

Nationally licensed life insurance agent with over 16 years of experience.
Personal annual production that puts him in the top .001% out of all life insurance agents in the nation.

Anthony Martin is a nationally licensed insurance expert with over 16 years of experience and has personally served over 10,000 clients with their life insurance needs. He frequently authors entrepreneurial and life insurance content for Forbes, Inc.com, Newsweek, Kiplinger, and Entreprenuer.com. Anthony has been consulted as an expert life insurance source for dozens of high-profile websites such as Forbes, Bankrate, Reuters, Fox Business, CNBC, Investopedia, Insurance.com, Yahoo Finance, and many more.

Jeff Root

Life Insurance Expert, Choice Mutual Fact Checker

Editor

Nationally licensed life insurance agent with over 20 years of experience
Best selling Amazon author.

Jeff Root is a nationally licensed life insurance expert with over 20 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.

David Duford

Life Insurance Expert, Choice Mutual Fact Checker

Editor

Nationally licensed life insurance agent with over 15 years of experience
Best selling Amazon author of five insurance sales books.

David Duford is a nationally licensed insurance expert with over 15 years of experience. He has personally helped more than 15,000 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.

Jeff Root

Life Insurance Expert, Choice Mutual Fact Checker

Editor

Nationally licensed life insurance agent with over 20 years of experience
Best selling Amazon author.

David Duford

Life Insurance Expert, Choice Mutual Fact Checker

Editor

Nationally licensed life insurance agent with over 15 years of experience
Best selling Amazon author of five insurance sales books.

Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.

CDC. https://www.cdc.gov/nchs/fastats/life-expectancy.htm
state law. https://www.upi.com/Archives/1985/10/01/Unisex-insurance-law-begins/7442496987200/
MIB. https://www.mib.com/facts_about_mib.html
Milliman. https://www.milliman.com/en/Our-Story

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