A $250,000 10-year term life insurance policy costs around $26 per month for men and $22 per month for women. Penn Mutual offers the lowest monthly rate at $17.
Find out if you're overpaying for life insurance below.
Updated: March 17, 2026
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A $250,000 term life policy provides moderate coverage at an affordable price, making it ideal for those with financial obligations like mortgage payments, education costs or everyday living expenses.
Rates depend on factors like age, health, smoking status and term length. For 40-year-olds with 10-year term life insurance, average monthly costs are $60 to $76 for smokers and $24 to $28 for people with poor health.
Penn Mutual, Lincoln Financial, Guardian Life and Columbus offer some of the most competitive rates, starting at $14 per month for qualified applicants.
A $250,000 term life insurance policy costs about $26 per month for healthy 40-year-old males and $22 per month for females. Rates vary based on age, gender, health and term length. Shorter terms typically have lower premiums, but coverage ends when the term expires.
A 10-year term life insurance policy with a $250,000 coverage amount costs an average of $26 per month for males and $22 for females. A 20-year term averages $35 for males and $28 for females.
Once you determine how much life insurance you need and decide on a $250,000 policy, you must choose a term length. Most insurers offer 10- to 30-year policies, but some provide 35- and 40-year terms. Your beneficiaries receive the death benefit if you die during the term.
| 10 | $22 | $260 |
| 15 | $25 | $299 |
| 20 | $28 | $338 |
| 25 | $33 | $395 |
| 30 | $48 | $580 |
| 35 | $47 | $562 |
| 40 | $54 | $647 |
Rates are based on averages for 40-year-old nonsmokers with average health.
Age is one of the biggest factors impacting the cost of a $250,000 term life insurance policy. A $250,000 10-year policy for a female in her 30s costs as little as $16 per month, while a male in his 70s will pay around $321 per month.
Compare the cost by age, gender and term length below.
| 10 | $16 | $190 |
| 15 | $18 | $212 |
| 20 | $20 | $236 |
| 25 | $22 | $267 |
| 30 | $31 | $376 |
| 35 | $31 | $372 |
| 40 | $36 | $430 |
Smokers who are 40 pay an average of $76 per month for men and $60 for women for a 10-year $250,000 term life policy. These rates are more than triple what a healthy nonsmoker pays.
The rate reflects smoking's health impact, such as heart disease, cancer and decreased life expectancy.
| 10 | $60 | $721 |
| 15 | $76 | $910 |
| 20 | $82 | $988 |
| 25 | $102 | $1,218 |
| 30 | $136 | $1,632 |
| 35 | $139 | $1,671 |
| 40 | $158 | $1,899 |
A 40-year-old man in poor health pays an average of $28 per month for a 10-year term policy with $250,000 coverage. A 40-year-old woman spends around $24 monthly for the same policy.
Diabetes, high blood pressure or a history of cancer may increase your risk profile, even if you’re a nonsmoker. Insurers adjust rates to show the potential for higher claims.
| 10 | $24 | $284 |
| 15 | $28 | $330 |
| 20 | $31 | $375 |
| 25 | $35 | $421 |
| 30 | $52 | $627 |
| 35 | $49 | $582 |
| 40 | $54 | $654 |
Penn Mutual offers the most affordable $250,000 10-year policy, averaging $17 per month or $205 per year. Lincoln Financial follows closely behind.
| Penn Mutual | $17 | $205 |
| Lincoln Financial | $18 | $217 |
| Guardian Life | $19 | $228 |
| Columbus | $20 | $236 |
| Banner Life | $21 | $253 |
| Transamerica | $21 | $257 |
| MassMutual | $22 | $259 |
| Cincinnati Life | $22 | $264 |
| Pacific Life | $24 | $285 |
| Protective | $24 | $285 |
| Nationwide | $26 | $309 |
| John Hancock | $26 | $311 |
| Mutual of Omaha | $27 | $318 |
| Fidelity | $27 | $319 |
| Prudential | $27 | $326 |
| Gerber Life | $27 | $330 |
| New York Life | $28 | $334 |
| Midland National | $29 | $345 |
| North American | $29 | $345 |
| State Farm | $29 | $353 |
| Ethos | $66 | $791 |
Rates are based on averages for 40-year-old male nonsmokers with average health.
No-exam policies offer quick approval and are cost-effective for younger buyers. Older adults may pay more due to increased risk for insurers.
MoneyGeek found Lincoln Financial offers the best affordable no-medical-exam life insurance at $18 per month for a 10-year term policy.
| Lincoln Financial | $18 | $217 |
| Penn Mutual | $19 | $226 |
| Guardian Life | $21 | $251 |
| Banner Life | $23 | $278 |
| Transamerica | $24 | $283 |
| MassMutual | $24 | $285 |
| Nationwide | $26 | $309 |
| Pacific Life | $26 | $313 |
| Gerber Life | $27 | $330 |
| John Hancock | $29 | $343 |
| Mutual of Omaha | $29 | $350 |
| Prudential | $30 | $359 |
| North American | $32 | $379 |
| Ethos | $66 | $791 |
Rates are based on averages for 40-year-old male nonsmokers with average health.
Permanent life insurance costs more than term coverage because it builds cash value and lasts your entire life. The two most common types are whole life and universal life, and their monthly costs vary based on your age, health and tobacco use.
Whole life insurance premiums are fixed at purchase and never increase. The policy also accumulates guaranteed cash value over time.
| Female | $274 | $3,292 |
| Male | $294 | $3,532 |
Universal life insurance lets you adjust your premium payments and death benefit within certain limits after the policy issues. If your cash value drops too low because of reduced payments or poor investment performance, the policy can lapse.
| Female | $160 | $1,922 |
| Male | $187 | $2,242 |
Choosing the right coverage amount can feel overwhelming. A good idea is to multiply your annual income by 10 to 12 times. But if you own an expensive home or provide for children, you may need more coverage.
Understanding how $250,000 in life insurance matches your specific needs helps make sure your loved ones are taken care of.
New parents should consider how $250,000 aligns with their growing financial responsibilities. This coverage level works well for families with one child when combined with existing savings or dual incomes.
Key considerations include childcare costs through age 18, future education expenses, and maintaining your family's lifestyle. A 20-year term typically provides financial protection until children reach financial independence, though families planning multiple children should factor in extended timelines and potentially higher coverage needs.
Homeowners need coverage that addresses both mortgage obligations and family protection. A $250,000 policy suits those with moderate mortgage balances, providing funds for loan payoff plus additional family support.
Consider matching your term length to your mortgage timeline, potentially adding five to 10 years for extra security. If your mortgage represents most of the coverage amount, evaluate whether additional financial protection through riders or supplemental policies better serves your family's needs.
Single-income families face vulnerabilities that make adequate life insurance crucial for financial stability. A $250,000 policy can provide a multi-year financial bridge, covering immediate expenses while allowing the surviving spouse time to adjust career plans or enter the workforce.
Consider a longer term (20 to 30 years) to protect through peak earning years and until children achieve independence, ensuring coverage addresses immediate needs and long-term financial transitions.
Business owners must balance personal family protection with professional obligations when selecting coverage. A $250,000 personal policy can address family needs while keeping business interests separate through additional key person or buy-sell agreements. This coverage level works best for sole proprietors with minimal business debt or those with established succession plans.
Evaluate whether personal guarantees on business loans require additional coverage beyond family needs to prevent business obligations from impacting personal assets.
A $250,000 policy works well if you have minimal financial commitments or are older with fewer expenses. Younger families should often consider $500,000 policies or $1 million policies. Use the life insurance need quiz below to determine your coverage needs.
Use this simple calculator to find out how much life insurance you need in just a few minutes:
Enter your total yearly income before taxes.
A $250,000 term life insurance policy offers affordable financial protection for people with moderate financial needs, such as covering a mortgage, supporting dependents or paying off debt. Average rates start at around $22 per month, and top providers like Penn Mutual and Lincoln Financial offer even lower premiums.
Compare quotes and term lengths to find a policy that fits your life stage and budget.
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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.
A $250,000 policy is typically sufficient for people with minimal financial commitments or older adults with fewer expenses.
Young, healthy people may qualify for instant, no-medical-exam life insurance with coverage of $250,000.
Term life provides temporary $250,000 coverage (10 to 30 years) at low cost. Whole life insurance offers permanent coverage with cash value, but it costs more.
Traditional underwriting takes four to six weeks. Accelerated underwriting reduces this to one to two weeks without medical exams.
Most term policies include conversion rights, allowing you to switch to permanent coverage without new medical underwriting.
A $250,000 life insurance policy costs different amounts based on your age, lifestyle, health and insurer. We analyzed quotes from major life insurers to show you what you'll actually pay (and which companies offer the best value for your situation).
Most people shopping for $250,000 coverage want two things: affordable premiums and confidence their beneficiaries will get paid decades from now. We started with a baseline profile: 40-year-old male nonsmoker with average health rating. We then modified age, gender, tobacco use and health status to gather quotes for different customer types.
We collected quotes for different term lengths and permanent policies. The pricing patterns reveal how insurers evaluate risk.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in 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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
