Term Life Insurance Rates by Age Chart (2026)

Compare term life insurance rates by age for 2026 with simple charts to help you plan smarter and save on coverage.

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Term Life Insurance Rates by Age Chart (2026)

Written by Patrick Bryant

Updated: June 25, 2026

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Key Takeaways

Term life insurance starts at $15 per month for a 20-year-old woman with a 10-year, $250,000 policy. A 50-year-old buying the same policy pays $41 per month, a $26 difference based on price alone.

Locking in your rate early produces the largest savings. A 30-year-old man on a 20-year, $500K policy pays $38 per month. Waiting until 40 raises that monthly premium to $59 per month, $21 more for identical coverage.

Women pay less than men at every age and coverage level. At age 40 on a 20-year, $500K policy, women pay $47 per month versus $59 for men.

The cheapest insurer depends on your age. Cincinnati Life has the lowest rates for men in their 20s, Banner Life is least expensive through your 30s and 40s and Penn Mutual is cheapest at age 65 for a 20-year, $500K policy.

Term life insurance starts as low as $15 per month for a 20-year-old woman with a 10-year, $250,000 policy. At the high end, an 80-year-old buying the longest available term will pay up to $4,292 per month for the same coverage. Age is the largest factor in pricing, so locking your rate in early can save you hundreds each year.

Our analysis includes five term life insurance rate charts by age and term length, from 20 to 80 years old and 10- to 30-year terms. Each chart shows male and female rates at $250,000, $500,000, and $1,000,000 in coverage. All rates assume nonsmokers in average health. For a broader view of pricing factors, see our guide to term life insurance cost.

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Rates are based on average health for nonsmokers.

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Term Life Insurance Rates by Age: 10-Year Term

A 10-year term is the most affordable option at every age. A 20-year-old woman pays as little as $15 per month for $250,000 in coverage, while a 70-year-old woman pays $217 per month for the same coverage level, showing how sharply premiums climb in later decades. The 10-year term works best when you have short-term coverage needs and low monthly cost is your primary concern.


20	$19	$15	$29	$23	$51	$39
25	$22	$18	$31	$25	$55	$42
30	$20	$16	$29	$24	$51	$40
35	$24	$19	$34	$28	$60	$49
40	$26	$22	$41	$34	$74	$60
45	$33	$27	$61	$49	$113	$89
50	$52	$41	$90	$70	$171	$130
55	$69	$53	$144	$104	$270	$196
60	$131	$93	$227	$158	$429	$301
65	$169	$121	$385	$262	$728	$487
70	$321	$217	$599	$397	$1,103	$719
75	$396	$268	$1,085	$706	$2,091	$1,309
80	$1,014	$738	$2,274	$1,598	$4,292	$2,903

Term Life Insurance Rates by Age: 15-Year Term

A 15-year term costs more per month than a 10-year term at the same age and coverage level, because insurers carry five additional years of mortality risk. The maximum age available for a 15-year term in our analysis is 75, reflecting the longer coverage window. Buyers who need protection through their mid-50s or early 60s will find the 15-year term a useful middle ground between the shortest and most common term length options.


20	$20	$17	$33	$27	$59	$45
25	$24	$20	$35	$28	$63	$48
30	$21	$18	$34	$28	$59	$47
35	$26	$21	$40	$33	$73	$58
40	$31	$25	$50	$40	$92	$73
45	$39	$31	$75	$59	$141	$109
50	$65	$50	$112	$85	$213	$160
55	$84	$64	$186	$133	$353	$256
60	$171	$124	$296	$208	$574	$399
65	$223	$164	$514	$353	$1,017	$676
70	$398	$291	$828	$552	$1,611	$1,038
75	$481	$352	$1,152	$799	$2,403	$1,614

Term Life Insurance Rates by Age: 20-Year Term

The 20-year term is the most common choice for working-age adults, because it balances coverage length with monthly cost. A 30-year-old who locks in a 20-year policy today stays covered through age 50, spanning peak earning and family obligation years. For context on how these rates compare to other policy types, see our full breakdown of life insurance rates.


20	$22	$19	$36	$30	$64	$51
25	$26	$22	$39	$30	$69	$54
30	$23	$20	$38	$31	$67	$54
35	$28	$24	$47	$37	$85	$68
40	$35	$28	$59	$47	$109	$86
45	$44	$35	$90	$69	$170	$130
50	$77	$59	$137	$102	$262	$194
55	$100	$75	$231	$168	$440	$317
60	$215	$157	$395	$286	$771	$545
65	$245	$178	$591	$415	$1,195	$806
70	$558	$431	$1,132	$844	$2,586	$1,802

Term Life Insurance Rates by Age: 25-Year Term

The 25-year term is less widely available than 20- or 30-year options, and fewer insurers offer it at older ages. Eligibility drops off after age 65, so the table below covers ages 20 to 65 only. If you want coverage longer than 20 years but can't qualify for a 30-year term, you may find a 25-year policy a useful option while you're still in their 40s or early 50s.


20	$25	$21	$40	$31	$71	$52
25	$30	$24	$43	$35	$79	$59
30	$26	$22	$41	$34	$73	$60
35	$32	$27	$53	$42	$97	$76
40	$41	$33	$69	$53	$128	$97
45	$52	$42	$107	$80	$201	$148
50	$94	$71	$167	$121	$317	$227
55	$143	$111	$304	$226	$578	$421
60	$194	$147	$419	$302	$825	$545
65	$253	$208	$456	$376	$996	$660

Term Life Insurance Rates by Age: 30-Year Term

A 30-year term locks in today's rate for three decades, making it most valuable for people in their 20s and 30s who want long-term financial protection at a fixed cost. Based on our research of the best term life insurance companies, eligibility extends up to age 60 for the 30-year term. Buying at age 30 instead of waiting until age 40 saves a man an average of $40 per month on a $500K policy, while women will save an average of $30 per month.


20	$35	$28	$58	$45	$110	$81
25	$41	$33	$63	$51	$123	$92
30	$38	$31	$64	$52	$119	$95
35	$47	$38	$80	$65	$152	$120
40	$61	$48	$104	$82	$198	$154
45	$77	$61	$159	$123	$306	$232
50	$150	$112	$269	$196	$515	$371
55	$176	$130	$372	$283	$763	$527
60	$227	$189	$395	$352	$791	$657

Term Life Insurance Rates by Age and Company

The table below shows the six cheapest term life insurance companies by age, based on our analysis of 30 providers, comparing male rates for a 20-year, $500,000 policy. Cincinnati Life has the lowest rates for men in their 20s, with average premiums of $29 to $30 per month. Through your 30s and 40s, Banner Life is the least expensive option, tying with Transamerica from ages 40 to 60. At age 65, Penn Mutual becomes the cheapest option at $512 per month, compared with $515 for Pacific Life, $605 for Transamerica, and $618 for Banner Life.


20	$30	$30	$29	$30	$35	$32
25	$33	$33	$30	$34	$38	$36
30	$30	$30	$30	$30	$33	$34
35	$37	$41	$39	$37	$39	$43
40	$47	$54	$49	$46	$46	$54
45	$74	$80	$77	$73	$73	$83
50	$118	$116	$120	$116	$116	$127
55	$192	$191	$197	$190	$190	$213
60	$314	$314	$323	$310	$310	$357
65	$512	$515	$531	$618	$605	$672
Avg. Rate (Ages 20-65)	$139	$140	$143	$148	$149	$165

* Rates shown are based on quotes for nonsmoking men in average health with a 20-year, $500,000 term life policy.

What Factors Affect Term Life Insurance Rates?

Several key factors determine how much you'll pay for term life insurance. Understanding these can help you find the best rate and coverage for your situation:

Age
Age is the single largest pricing variable for term life insurance. Rates increase at every older age because the probability of a claim within the policy term rises as life expectancy shortens. Locking in a rate while younger produces the most savings over the life of the policy.
Gender
Women pay lower term life premiums than men at every age and coverage level because they have a longer average life expectancy. The dollar difference grows at older ages and higher coverage amounts.
Health Classification
Insurers assign health classifications, such as Preferred Plus, Preferred, Standard Plus, Standard, and substandard, based on medical history, BMI, blood pressure, cholesterol, and other factors. A better classification produces a lower rate.
Smoking Status
Smokers pay two to three times the nonsmoker rate at most ages. Quitting smoking at least 12 months before applying, and in some cases longer, is required to qualify for nonsmoker rates.
Coverage Amount
Higher death benefit amounts cost more per month, but the rate per thousand dollars of coverage often decreases as coverage increases. A $1,000,000 policy costs more in total but less per dollar of coverage than a $250,000 policy.
Term Length
Longer terms cost more per month because the insurer is committed to the rate for a greater number of years. A 30-year term at the same age and coverage amount will always cost more per month than a 10-year term.

How to Qualify for Term Life Insurance

Term life insurance applicants follow one of two underwriting paths: simplified or no-exam underwriting, and fully underwritten policies. The path you take affects both your eligibility and your premium.

No-Exam (Simplified or Accelerated Underwriting)

Simplified issue policies require you to answer health questions but skip the medical exam. Accelerated underwriting uses algorithms and third-party data sources to approve many applicants instantly. No-exam policies have lower coverage limits and cost more than fully underwritten policies. For a full comparison of available options, see our guide to the best no-exam life insurance.

Fully Underwritten (With Medical Exam)

Full underwriting requires a medical exam, including a blood draw, urine sample, and vitals check, along with a review of your medical records and prescription history. Full underwriting gets you the best available rates and the highest coverage limits, making it the right path for most applicants seeking $500,000 or more in coverage. The process takes four to eight weeks from application to approval. For a full walkthrough of the process, see our guide on how to get life insurance.

How to Find the Best Term Life Insurance Rates

The difference between the cheapest and most expensive insurer for a 40-year-old man on a 20-year, $500K policy can be substantial. Shopping around is the most effective way to reduce your premium.

1
Compare Quotes From Multiple Insurers
Rates vary widely across insurers for the same applicant profile. The cheapest insurer for a 30-year-old man may not be the cheapest for a 45-year-old woman. Use a comparison tool or independent broker to see multiple quotes side by side before committing to a policy. Our life insurance calculator can help you estimate your coverage needs and compare options in one place.
2
Lock In Your Rate While You're Younger
Term life premiums are set at the time of application and stay level for the entire term. For example, a 35-year-old man on a 20-year, $500K policy pays approximately $47/month — waiting until age 40 raises that rate to $59/month, an increase of $12/month for the same coverage. Buying in your 30s rather than your 40s produces the largest lifetime savings because the rate gap between decades is widest in that window. Every year you wait is a year of lower premiums you cannot recover.
3
Choose the Right Term Length for Your Needs
A longer term costs more per month but provides protection for more years at a locked rate. A 20-year-old who buys a 30-year term will be covered through age 50, spanning mortgage payments, child-rearing, and peak earning years in one policy. Shorter terms make more sense when a specific finite obligation, such as a 10-year loan, is the primary concern. Match your term length to your longest financial obligation for the best value.
4
Improve Your Health Before Applying
Insurers assign health classifications that directly affect your rate. Moving from a lower classification to a higher one can reduce premiums meaningfully. Quitting smoking is the single most impactful change you can make, as smoker rates are two to three times nonsmoker rates at most ages. For more ways to reduce what you pay, see our guide to cheapest term life insurance.

Frequently Asked Questions

For a 40-year-old nonsmoker with average health on a 20-year, $500K policy, the average monthly rate is $59 per month for men and $47 for women. Rates vary based on age, coverage amount, term length and health classification.

Yes. Term life premiums are higher at every older age because the probability of a claim within the policy term increases as life expectancy shortens. A man buying a 20-year, $500K policy at age 30 pays $38 per month compared to $137 at age 50, a difference of $99 for the same coverage. Once your policy is issued, the rate is locked for the full term, so buying earlier will save you money.

For most working adults with dependents, a mortgage, or income others rely on, term life insurance is a cost-effective way to provide financial protection. Monthly rates start at $15 for the youngest applicants in our analysis. Coverage amounts of $500,000 or more are available for well under $50 per month for applicants in their 20s and 30s.

When your policy term expires, coverage ends and no death benefit is paid unless the insured died during the term. There is no cash value or return of premium unless you purchased a rider for that purpose. Most insurers offer a conversion option that lets you move to permanent coverage, or a renewable option that extends coverage at a higher rate based on your attained age.

Our Methodology

MoneyGeek analyzed thousands of quotes from more than 30 term life insurance providers to build the rate data on this page. Our baseline profile is a 40-year-old nonsmoker with an average BMI and standard health rating, quoted at $500,000 in coverage across 10, 15, 20, 25 and 30-year terms.

To show how rates vary based on different needs, we also collected quotes for seven coverage levels: $100,000, $250,000, $500,000, $1 million, $1.5 million, $2 million and $3 million. We then adjusted for age, smoking status, health rating and BMI to illustrate how each factor impacts cost. All monthly rates shown are averages across the insurers we reviewed, rounded to the nearest dollar.

About Patrick Bryant

Patrick Bryant is the Vertical Lead for Life and Health Insurance at MoneyGeek, where he researches insurance products, writes consumer guides and maintains the scoring methodologies behind our provider comparisons. He analyzed more than 50 life insurance carriers across multiple policy types, collecting thousands of quotes nationwide to evaluate rates, coverage options and underwriting factors. His methodologies are reviewed quarterly to reflect current market conditions and carrier data.

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