30-Year Term Life Insurance Policies and Costs in 2025


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Key Takeaways

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The average cost of 30-year term life policies varies by age, with young adults paying around $21 to $79 per month and those in their 50s paying about $97 to $297.

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Based on average rates, Transamerica offers the cheapest 30-year term life insurance. Monthly cost averages are $22 for $250,000 coverage, $33 for $500,000 and $54 for $1 million.

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Smokers and people in poor health are considered riskier to insure, so they get higher life insurance rates.

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Ensure you're getting the best rate for your life insurance. Compare quotes from the top insurance companies.

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What Is 30-Year Term Life Insurance?

A 30-year term life insurance policy provides coverage for 30 years. Unlike permanent life insurance, which can be expensive, term life insurance is much more affordable. With a 30-year term policy, your beneficiaries receive the death benefit if you pass away while the policy is active and premiums are current.

For instance, if you purchase a $500,000 policy at age 35, you're covered until age 65. If you pass away at 55, your beneficiaries submit a claim, and once approved, your insurer pays the death benefit as a tax-free lump sum. Your beneficiaries can use the money to cover funeral expenses, pay off debts, handle household expenses or pay educational expenses for your children.

How Much Is a 30-Year Term Life Insurance Policy?

The average cost of a 30-year term life insurance policy varies by age and coverage amount. Health and lifestyle also affect rates. The summary table below shows the average costs and cheapest rates for 30-year life policies.

Category
$250,000
$500,000
$1,000,000

Cost by Age (30s)

$31

$42

$79

Cost by Age (40s)

$43

$62

$123

Cost by Age (50s)

$97

$156

$297

Cheapest Rate (Overall)

$22

$33

$54

Cheapest Rate (Smokers)

$66

$117

$219

Cheapest Rate (Poor Health)

$25

$40

$72

Average Cost of 30-Year Term Life Insurance

A 30-year-old pays an average of $31 monthly for a $250,000 coverage policy. A 50-year-old with a $1 million coverage amount pays an average of $297 monthly. The table below shows how monthly rates increase for buyers aged 30, 40 and 50 across various coverage amounts.

Policyholder's Age
$250,000
$500,000
$1 Million

30

$31

$42

$79

40

$43

$62

$123

50

$97

$156

$297

30-Year Term Life Insurance Cost: Factors Affecting Rates

The cost of a 30-year term life insurance policy is determined by several factors, including the policyholder's age, gender, health, occupation and hobbies. Insurance providers use this information to assess the policyholder's risk of dying during the policy term. The higher the risk, the higher the premium the policyholder pays.

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    Age

    Age is a major factor, as older policyholders are more likely to pass away during the policy term, so their premiums are higher.

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    Gender

    Gender also plays a role, as women typically live longer than men and, therefore, have lower premiums.

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    Health

    Health is another important factor, as policyholders with pre-existing medical conditions or unhealthy habits like smoking are more likely to die during the policy term and face higher premiums.

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    Occupation and Lifestyle

    Occupations and hobbies can also affect the cost of the policy, as some jobs and activities are riskier than others, such as construction work or skydiving.

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    Coverage Amount

    The amount of coverage desired, or the face value of the policy, affects the cost. The higher the face value, the higher the premium.

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    Term Length

    The length of the policy term also affects the cost, with longer terms typically costing more than shorter ones.

Compare 30-Year Term Life Insurance Quotes

Life insurance premiums depend on individual factors. To ensure you get the best rates, compare policy offers from multiple providers. The life insurance calculator below can provide you with quick estimates to help narrow down your options.

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Jun 23, 2025

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Cheapest 30-Year Term Life Insurance

MoneyGeek’s study compared multiple life insurance quotes with various coverage amounts from different insurers nationwide. Regardless of your policy's face value, you can typically purchase the most affordable term life insurance from Transamerica. Examine how rates change across insurers based on the coverage amount to help determine how much coverage you can afford.

Company
$250,000
$500,000
$1 Million

1.

Transamerica

$22

$33

$54

2.

Mutual of Omaha

$25

$40

$72

3.

Mass Mutual

$26

$40

$65

4.

Nationwide

$27

$38

$66

5.

AAA

$30

$39

$80

6.

Progressive

$37

$60

$158

7.

Prudential

$57

$59

$115

Cheapest 30-Year Term Life Insurance Providers for Smokers

Life insurance for smokers costs much more than coverage for nonsmokers. According to the Centers for Disease Control and Prevention (CDC), smoking shortens your life expectancy by at least 10 years, making smokers riskier to insure.

Transamerica offers the most affordable life insurance policies for smokers. The table below compares rates from different companies to narrow your options.

Company
$250,000
$500,000
$1 Million

1.

Transamerica

$66

$117

$219

2.

Mass Mutual

$78

$141

$265

3.

Nationwide

$86

$276

$533

4.

AAA

$93

$166

$314

5.

Mutual of Omaha

$94

$155

$301

6.

Progressive

$94

$173

$386

7.

Prudential

$116

$172

$342

Cheapest 30-Year Term Life Insurance if You're in Poor Health

MoneyGeek also compared quotes for policyholders who have poor health. Mutual of Omaha offers the lowest average rates across different coverage levels. Learning more about how much each company charges policyholders in poor health can help you find the best deal for term life insurance. Check the table below to compare rates.

Company
$250,000
$500,000
$1 Million

1.

Mutual of Omaha

$25

$40

$72

2.

Transamerica

$34

$56

$96

3.

Mass Mutual

$45

$74

$133

4.

Nationwide

$48

$80

$146

5.

AAA

$49

$83

$153

6.

Progressive

$52

$87

$158

7.

Prudential

$59

$100

$184

Cheapest 30-Year Term Life Insurance Companies for Older Buyers

The older you are, the more expensive premiums become because you're less likely to outlive your policy. Transamerica offers the cheapest average 30-year term life insurance rates for older buyers. Look at the varying rates offered by different insurers below and consider which ones suit your needs.

Company
$250,000
$500,000
$1 Million

1.

Transamerica

$70

$124

$230

2.

Nationwide

$81

$146

$279

3.

Mass Mutual

$86

$158

$298

4.

Mutual of Omaha

$88

$157

$304

5.

AAA

$96

$180

$344

6.

Progressive

$167

$309

$611

7.

Prudential

$187

$169

$336

Note: The rates above are based on averages for a 50-year-old policyholder.

Is a 30-Year Term Life Insurance Policy Right for You?

You have multiple policy length options when purchasing term life insurance, typically 10 to 30 years. The best way to figure out whether a 30-year term is appropriate for you is to examine your current financial situation. You may find a 30-year term life insurance policy suitable if you:

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    Have young children

    A 30-year term life insurance policy can be an excellent option if you have children because it provides protection for a set period, ensuring that your children receive financial support if you pass away during that time. Term life insurance policies are much more affordable than permanent ones, making it easier to secure coverage for a higher face value amount.

    A 30-year term life insurance policy can also help ensure that your children have access to funds to pay for future expenses such as college tuition. By purchasing a policy that covers the length of time your children will be in school, you can rest assured knowing they'll have the financial support they need to complete their education.

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    Have long-term debts

    A 30-year life insurance policy is a good option if you have long-term debts because it provides coverage for a set period, which aligns with many long-term debts, such as mortgages. If you pass away before the term ends, the death benefit can be used to pay off the outstanding debts. This assures you that your loved ones won't be burdened with debt if something happens to you.

    Also, term life insurance premiums are more affordable than permanent life insurance, so a 30-year term policy is a cost-effective way to ensure that debts are covered if you pass away.

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    Want coverage while you’re working

    A 30-year term life insurance policy is a good option if you're employed because it provides coverage for a long period, which can help protect your family and assets if you die unexpectedly. If you're the primary breadwinner in your family, a 30-year term life policy can provide financial protection for your dependents, even if you pass away before retirement age.

    Also, if you have long-term financial goals, such as paying off a mortgage or saving for your children's college education, a 30-year term life insurance policy can provide the financial support needed to help achieve these goals after you die.

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CONSIDER PERMANENT LIFE INSURANCE FOR LONGER COVERAGE NEEDS

While a 30-year term life insurance policy is typically the longest-term option available, permanent life insurance may be a better choice if you require coverage for a longer period.

What Happens After 30-Year Life Insurance?

If you're still alive at the end of the 30-year term, you can either extend your coverage for another term or give it up. Before you decide which direction is most appropriate for you, you need to consider several factors.

If you choose to continue having life insurance, sometimes it's a better idea to purchase a new (and possibly shorter) policy. Renewing your existing term policy exposes you to much higher rates. You'll be 30 years older at this point, and your life expectancy is 30 years shorter.

However, if you're in worse health than when you first bought life insurance, renewing may be a better option since a renewal isn't subject to additional underwriting. On the other hand, if you decide to purchase a new policy after your term policy ends, you may be subject to medical underwriting and face the potential of being denied coverage.

Giving up coverage may be your best option if you're financially independent and don't have children or a spouse who depends on you financially. Although very helpful, life insurance isn't always necessary for everyone.

30-Year Term Life Insurance Rates: Bottom Line

If you're looking for financial protection for your loved ones, a 30-year term life insurance policy can offer adequate coverage. But with so much information out there, it can be overwhelming to figure out the best option for you.

We break down everything you need to know about 30-year life insurance, including what it is, how much it costs and whether it's the right choice to provide financial protection for your loved ones.

Compare Life Insurance Rates

Ensure you're getting the best rate for your life insurance. Compare quotes from the top insurance companies.

Why do we need ZIP code?

30-Year Term Life Insurance Policy: FAQ

A 30-year term life insurance policy is an excellent option for some buyer profiles but may not be for everyone. Understanding the answers to frequently asked questions about this type of insurance can help determine if it fits your needs.

How does a 30-year term life policy work?

How much does a 30-year term policy cost?

Can term life be extended after 30 years?

Does COVID-19 affect getting term life insurance?

Best 30-Year Term Life Insurance Rates: Our Ratings Methodology

Why Trust MoneyGeek?

We analyzed 1,488 life insurance quotes alongside customer satisfaction, financial stability reports, product offerings and more to determine the best life insurance companies for various needs.

Recency

Coverage costs and company information for life insurance providers were updated in 2025.

Methodology

MoneyGeek used a standard profile to obtain life insurance quotes:

  • 40-year-old male
  • Nonsmoker
  • 5 feet 11 inches tall and 175 pounds
  • Excellent health rating

Premiums are based on the standard profile unless otherwise noted.

We modified the profile by age, gender, height, weight, tobacco use, health rating and geographic location to collect various quotes and determine the best life insurance company for several types of customers. We also collected quotes for term life insurance with varying term lengths and coverage amounts.

We identified trends in the dataset and used those patterns to calculate projections and extend the data beyond what was originally collected.

30-Year Term Life Insurance: Related Pages

About Mark Fitzpatrick


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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.


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