Updated: April 21, 2025
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The average cost of a $250,000 policy is $23 per month for a 10-year term and $29 for a 20-year term. Policy cost can range from $12 per month up to several hundred dollars per month depending on your age an other factors.
Allstate has the cheapest $250,000 life insurance policy starting at $12 for a 10-year term for males and $11 for females for younger buyers.
The primary factors impacting the cost of a $250,000 term life policy are age, gender, health status, lifestyle, and term length (10 year vs 20 year).
Age is one of the biggest factors impacting your insurance cost for a $250,000 term life insurance policy.
Th cost for a female in their 30s for a $250k, 10-year, policy is as low as $12 per month, while a male in their 70s will pay over $200 per month. The range for a $250k policy over 20 years is $15 for a 30 year old female to over $700 for a 70-year-old.
Compare the cost by age group, gender, and term length below.
| 30 | $16 |
| 40 | $23 |
| 50 | $45 |
| 60 | $91 |
| 70 | $243 |
More Information:
Best life insurance for Young People
Best life Insurance in Your 40s
Best Life Insurance in Your 50s
Cheapest Life Insurance for Seniors
A $250,000 policy can vary in cost based on several personal profile factors. To estimate your life insurance cost, use MoneyGeek's quote calculator.
Allstate offers the cheapest $250,000, 10-year, policy for males and females, and Transamerica and Protective offer the same policy at about the same rate.
The table below presents a comparison of average monthly premiums for a 10-year term life insurance policy with $250,000 coverage from various companies.
| Allstate | $12 |
| Transamerica | $12 |
| GEICO | $13 |
| Protective | $13 |
| Nationwide | $16 |
| AAA | $17 |
| Mutual of Omaha | $17 |
| Prudential | $17 |
| Fidelity | $20 |
| Haven | $22 |
| State Farm | $22 |
| Bestow | $27 |
| Progressive | $31 |
| Gerber | $76 |
When choosing a $250,000 policy you will need to determine what term length you want to buy. Term length refers to how long your policy will last before expiring. If you pass away within your chosen term length, the insurance company will pay the death benefit to your beneficiaries. Insurers typically offer term lengths ranging from 10 to 30 years, with 20 years as a sweet spot for younger and middle aged buyers.
The right term length for you will depend on your financial needs. For example, a homeowner close to paying off their mortgage may want the financial protection that 10-year term insurance provides. If you’re looking for more long-term coverage or have family members who depend on your income, a 20-year plan is a good option for you. See our guide to determining how much life insurance you need.
Below are the average costs of a $250,000 term policy for different term lengths.
| 10-Year Term | $23 |
| 20-Year Term | $29 |
Health conditions and lifestyle choices like smoking significantly impact the cost of life insurance premiums. Smokers and individuals with health issues such as diabetes, cancer or high cholesterol often face higher rates. This is because these factors increase the risk of early mortality.
For example, a healthy non-smoker might pay an average of $23 per month for a 10-year term life insurance policy. A smoker could expect to pay as much as $50 monthly for the same policy, and someone with poor health might get a $25 monthly premium rate.
Improving your health can be an effective strategy to lower your insurance costs. The following tables show average premiums for $250,000 term life insurance for smokers and those with poor health.
| 10-Year Term | $50 |
| 20-Year Term | $65 |
| 10-Year Term | $25 |
| 20-Year Term | $32 |
No medical exam life insurance is a convenient option. It is affordable for younger people looking for instant approval. Older people need to consider that no exam policies may cost more than buying a policy with a medical exam because the insurance company takes a higher risk.
MoneyGeek ranked the best life insurance companies with no medical exam. All of these companies on our list offer a $250,000 policy with no medical exam and policies start around $10 per month for young buyers and increase with age.
A good rule of thumb for deciding whether a $250,000 life insurance amount is sufficient for you is to multiply your monthly income at least 10 to 15 times, but if you own an expensive home or provide for children, you may need more coverage.
A $250,000 policy can make sense if you have minimal financial commitments or are older with minimal expenses. Younger families probably want to. consider $500,000 policies or $1M policies.
Use the life insurance need quiz below to determine your coverage need.
Before taking out a $250,000 life insurance policy, there are several factors to consider so you can choose the option that best fits your needs. Below are some frequently asked questions about $250,000 life insurance rates.
On average, a $250,00 life insurance policy costs $23 per month for a 10-year term and $29 for a 20-year term. Final premiums depend on factors like your overall health, age and term length. However, rates can range from as low as $12 monthly for young, healthy applicants to over $200 monthly for applicants in their 70s.
Allstate offers the cheapest $250,000 term life policy at just $12 per month for a 10-year term. Transamerica matches this rate, while GEICO and Protective follow closely at $13 per month for the same coverage.
Age dramatically impacts life insurance costs, with rates increasing as you get older. For example, a 30-year-old male pays around $16 monthly for a 10-year, $250,000 policy, while a 70-year-old male pays approximately $243 monthly for the same coverage.
A $250,000 term life policy provides coverage for a specific period (typically 10-30 years) in exchange for regular premium payments. If you die during the term, the insurance company pays your beneficiaries the $250,000 death benefit tax-free, which they can use for any purpose. If you outlive the term, coverage ends unless you renew or convert the policy, though premiums will be higher based on your new age.
See also: How does life insurance work?
A $250,000 policy is typically sufficient for individuals with minimal financial commitments or older adults with fewer expenses. However, the general recommendation is to have coverage that's 10-15 times your annual income, so younger families with mortgages and children often need $500,000 or $1 million in coverage. See if this coverage level is right for you.
Young, healthy individuals may qualify for instant, no medical exam life insurance with coverage of $250,000. These policies are convenient and have almost immediate coverage, but sometimes can cost more than policies that require and exam.
Why Trust MoneyGeek? We analyzed 1,488 of life insurance quotes to determine the average cost of a $250,000 life insurance policy for a variety of needs.
Coverage costs and company information for life insurance providers were updated in 2023.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
