The short answer
- A $250,000, 20-year term policy averages about $16 a month for a healthy 30-year-old woman and $18 for a man.
- Age moves the price more than anything else: the same policy runs about $110 to $157 a month at 60.
- Doubling coverage to $500,000 rarely doubles the bill, so larger policies are often better value per dollar.
- Whole life costs many times more than term for the same death benefit.
In this article
Price points worth remembering
- $250,000 / 20-year term, age 30: about $16 (women) and $18 (men) a month
- Same policy at age 50: about $44 and $56 a month
- $500,000 / 20-year term, age 40: about $37 and $44 a month
- Adults 18 to 30 guess the cost of a $250,000 term policy 10 to 12 times too high
Average monthly rates for nonsmokers in good health, from MoneyGeek (updated November 5, 2026). Cost survey from Life Happens and LIMRA, 2025.
How much is life insurance for someone like you? For a healthy adult buying term coverage, the honest answer is usually somewhere between the price of a lunch and the price of a phone bill each month.
Below are average 20-year term rates at every age from 25 to 70, followed by the handful of things an insurer looks at when it turns an average into your actual quote.
How much is life insurance by age? 20-year term rates
Each row shows the average monthly premium for a 20-year level term policy. Rates assume a nonsmoker in good health.
| Age | $250k women | $250k men | $500k women | $500k men |
|---|---|---|---|---|
| 25 | $15 | $18 | $23 | $29 |
| 30 | $16 | $18 | $24 | $30 |
| 35 | $18 | $22 | $29 | $36 |
| 40 | $22 | $26 | $37 | $44 |
| 45 | $31 | $38 | $54 | $67 |
| 50 | $44 | $56 | $79 | $103 |
| 55 | $69 | $94 | $127 | $174 |
| 60 | $110 | $157 | $204 | $293 |
| 65 | $180 | $260 | $336 | $500 |
| 70 | $335 | $452 | $637 | $871 |
Compare the $250k and $500k columns at age 40. Twice the coverage costs about $15 to $18 more a month, not twice as much.
Why most people overestimate the cost
how far adults aged 18 to 30 overestimate the price of a $250,000, 20-year term policy
The 2025 Insurance Barometer Study from Life Happens and LIMRA found that only 51% of adults aged 18 to 75 own life insurance, and about 40% (roughly 100 million people) say they need more. Price misconceptions are a big part of that gap.
Get a real quote, not an average
SponsoredWhat changes the price of life insurance
- β Age when you buy. Every birthday adds a little, and the jumps get steeper after 50.
- β Health and family history. Conditions such as diabetes or heart disease can move you to a higher rating class.
- β Tobacco use. Smokers pay much more than nonsmokers for the same coverage.
- β Policy type. Term is temporary and cheap; whole life lasts for life and builds cash value, so it costs far more.
- β Coverage amount and term length. More money and longer terms raise the premium, but not in a straight line.
- β Lifestyle and job. Risky hobbies or hazardous work can add to the price.
How much is whole life insurance compared with term?
20-year term, $500k, man aged 40
- About $44 a month
- Coverage ends after 20 years
- No cash value
Whole life, $500k, man aged 40
- About $537 a month
- Coverage for life if premiums are paid
- Builds cash value over time
MoneyGeek estimates whole life costs roughly 3 to 14 times as much as term for the same death benefit. Our term vs whole life guide walks through when that extra cost can make sense.
Check life insurance prices in your state
Add your ZIP code to see term, whole life and final expense options offered where you live. You can look without committing to anything.
Three ways to pay less
- Buy sooner. The rate you lock in at 35 is lower than the one you would get at 45.
- Size the policy to your real need with our coverage calculator instead of guessing.
- Compare several insurers. Each one weighs health details differently, so quotes for the same person can vary.
Frequently asked questions
How much is a $500,000 life insurance policy per month?
For a healthy nonsmoker buying 20-year term, averages run from about $23 to $29 a month at age 25 and about $37 to $44 at age 40, according to MoneyGeek. Whole life for the same amount costs several hundred dollars a month.
Is life insurance cheaper for women?
Usually yes. Women tend to live longer, so insurers charge them less for the same term policy at most ages.
Does the price of term life insurance go up every year?
Not during a level term. The premium stays the same for the full 10, 20 or 30 years. It rises sharply if you renew after the term ends.
How much is life insurance for a 60-year-old?
A $250,000, 20-year term policy averages about $110 a month for women and $157 for men at 60, assuming good health.
See life and final expense options for you
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