15-Year Term Life Insurance Cost Guide (2025 Rates)

A 15-year term life insurance policy covers you for 15 years. This policy works well when you need affordable coverage for a specific period, like while your kids are young or you're paying down your mortgage, without paying for lifelong insurance.

When you purchase a 15-year term policy, you agree to pay monthly or annual premiums to keep the policy active for the entire term. The premiums remain level throughout the 15-year term.

If you die within that period, your chosen beneficiaries will receive the policy’s death benefit, which they can use to cover funeral costs, living expenses, mortgage payments, outstanding debts, or educational needs. After 15 years, the policy expires and no benefit is paid if you outlive the term, unless you convert it or renew it.

The average cost of life insurance depends on term length, coverage amount and individualized factors.

For our base profile, a 40-year-old male who doesn't smoke, has average health and has a $500,000 coverage amount, the average rate is $46 per month or $551 per year.

Average premiums for different ages and coverage amounts:

Rates shown are estimates for nonsmokers with average weight and health ratings. Actual rates vary based on health, lifestyle and insurer underwriting guidelines. Get personalized quotes for accurate pricing.

Since people who smoke or have poor overall health are more likely to develop serious medical conditions, insurance companies consider them risky to cover and charge higher premiums. The cost of term life insurance is also slightly higher for people who are overweight.

Filter the table below to see the average 15-year term life insurance costs by age, gender and coverage level.

Rates are based on MoneyGeek's 2025 survey of major life insurance carriers for a 40-year-old male nonsmoker with average health and weight. These may not reflect your actual premium.

MoneyGeek analyzed the cost of a term life insurance policy by company and coverage amount to help you save time and money. Our analysis shows that Lincoln Financial offers the most affordable life insurance policies with 15-year term lengths for a $100,000 coverage amount.

Rates are based on averages for a 40-year-old male nonsmoker with average health.

Getting quotes based on your age, health and coverage amount helps you find the most affordable 15-year term life insurance options. Use the life insurance calculator below to compare rates and see what fits you best.

A 15-year term life insurance policy is a practical and affordable option for those with short- to mid-term financial responsibilities. It’s especially useful for parents, homeowners and anyone nearing retirement who wants to protect loved ones from debt or income loss.

With competitive rates from top providers like Lincoln Financial (averaging $11 per month for a healthy 40-year-old with $100,000 worth of coverage) and flexible coverage options, a 15-year policy offers solid financial protection without long-term commitment.

You can make an informed decision about purchasing 15-year term life insurance with answers to these frequently asked questions.

Finding the right 15-year term life insurance means balancing cost with reliable coverage. We researched which companies offer the best rates, financial stability and customer service for this coverage length.

We collected quotes from insurers with national coverage and online quoting tools. Instead of using advertised rates, we gathered real quotes using standardized profiles for accurate comparisons.

Sample Customer Profile

We used this standard profile to collect quotes:

• 40-year-old male
• Nonsmoker
• 5'9" and 160 pounds
• Average health rating

We adjusted age, gender, health status and tobacco-use to compare rates across different customer types. This strategy showed pricing patterns for many demographics.

Why This Matters

Fifteen-year term insurance covers specific financial obligations like mortgage payments or children's education costs that end within this timeframe. Our methodology identifies insurers that excel at this mid-length coverage period, where you need reliable protection without paying for longer coverage you don't need.