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2026 Term Life Insurance Rates by Age —
Compare $1 Million Policies
See real monthly life insurance pricing from top-rated carriers including Corebridge, Banner, Protective, Symetra, Pacific Life, Prudential, Lincoln Financial, Cincinnati Life, Principal, and Foresters. Preferred non-tobacco rates shown.
18–42%
Average savings when shopping the full market through LifeStein
2026 Pricing Data
$1 Million Term Life Insurance Rates — Male & Female
Monthly premiums for male applicants, preferred non-tobacco class. Ages 25–65 across all major term lengths.
How Much Does $1 Million Life Insurance Cost by Age for Men?
The chart above shows the average monthly cost of a $1,000,000 term life insurance policy for males in the Preferred Non-Tobacco health class across ages 25–65. Rates increase steadily as age rises, with younger applicants locking in dramatically lower premiums for long-term coverage. For example, a healthy 25-year-old male can secure a 20-year $1 million policy for around $28.72 per month, while a 40-year-old pays about $46.38 per month for the same term. By age 50, the average cost rises to approximately $127.59 monthly for a 20-year term, and by age 60, the same coverage averages roughly $378.71 per month.
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Longer term lengths create the biggest pricing gap as applicants age. A 30-year term at age 25 averages about $45.78 monthly, but climbs to approximately $236.94 per month at age 50 and exceeds $550 per month by age 56. Meanwhile, shorter-term policies remain considerably more affordable. A 10-year $1 million policy averages just $17.66 monthly at age 25, around $68.64 at age 50, and roughly $205.58 at age 60.
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The data also highlights why applying earlier can save tens of thousands of dollars over the life of a policy. Even a delay of 5–10 years can significantly increase monthly premiums, especially on 20-, 25-, and 30-year terms. Rates shown reflect preferred non-tobacco pricing and were compared across more than 50 life insurance companies through LifeStein.com to identify some of the most competitive rates available in the market.
Why Male Life Insurance Rates Increase Significantly After 50
The pricing you see in this table reflects one of the most important truths in life insurance: the earlier you lock in your rate, the more you save. A 35-year-old male can secure a 30-year $1M policy for around $62/month — protecting his family well into his 60s. That same policy purchased at age 50 costs nearly $237/month — a 280% increase.
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Rates rise with age because insurance carriers are statistically taking on more risk. Actuarial tables show that mortality rates increase sharply after age 50, especially for men. Additionally, health class matters enormously. These rates assume preferred non-tobacco underwriting. A standard plus or standard rating can add 25–60% to your premium. This is why working with an independent broker like LifeStein — who can shop your profile anonymously across 50+ carriers — is so critical. One carrier may rate you preferred while another assigns standard.
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LifeStein's founder Matt Mims has direct access to underwriters at dozens of carriers, allowing him to pre-shop your health profile before any formal application is submitted — protecting your MIB record and ensuring you get the best possible offer.
How Much Does $1 Million Life Insurance Cost by Age for Women?
The chart above shows the average monthly cost of a $1,000,000 term life insurance policy for females ages 25–65 in the Preferred Non-Tobacco health class. In most cases, women pay significantly lower life insurance premiums than men due to longer average life expectancy and lower actuarial risk. A healthy 25-year-old female can often secure a 20-year $1 million term policy for around $21.60 per month, while a 35-year-old averages approximately $27.13 monthly and a 45-year-old averages roughly $64.76 per month. By age 55, the average monthly cost for a 20-year term increases to approximately $157.00, and by age 65, premiums rise to roughly $491.33 per month.
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The chart also highlights how age and term length dramatically affect pricing over time. A 30-year $1 million term policy averages about $34.29 monthly at age 25, compared to approximately $178.01 per month at age 50 and over $389 per month by age 56. Shorter-term coverage remains much more affordable, with 10-year term rates starting around $14.88 monthly at age 25 and averaging roughly $56.25 monthly by age 50. Applicants who secure coverage earlier typically lock in substantially lower lifetime insurance costs, especially on longer 20-, 25-, and 30-year terms. Rates shown were compared across more than 50 life insurance companies through LifeStein.com to identify some of the most competitive Preferred Non-Tobacco rates available in the market.
Why Women Pay Less for Life Insurance Than Men
The female rate advantage is rooted in actuarial science: women in the U.S. live an average of 5–6 years longer than men. For a $1M 20-year policy at age 40, women pay approximately $40/month versus $46/month for men — a meaningful difference that compounds over decades of premium payments.
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Beyond base gender pricing, term length has a significant effect on women's premiums too. The jump from a 20-year to 30-year term at age 45 is about $46/month — from $65 to $111. This reflects the carrier's exposure over those final 10 years. For most women with young families, a 20 or 25-year term often provides the best combination of coverage and cost.
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Women also tend to qualify for better health classes more frequently, as many carriers have slightly more favorable underwriting guidelines for certain conditions in women — another reason to work with a broker who understands carrier-specific nuances.
The Science Behind Pricing
How Life Insurance Rates Are Calculated
​Underwriters evaluate dozens of factors. These four have the biggest impact on your premium.
​Age at Application
01
The single biggest driver of premium cost. Rates lock in at the age you apply — every year you wait increases your risk pool for the carrier.
​Gender
05
Women pay 15–30% less than men at most ages due to longer life expectancy. This difference is baked into all carrier pricing models.
Health Classification
02
​Preferred Plus → Preferred → Standard Plus → Standard → Substandard. Each tier carries a different base rate. Preferred Plus can save 30–45% vs. Standard.
Term Length
03
​Longer terms carry higher monthly premiums because carriers face greater exposure. A 30-year term at age 45 is typically 72% more expensive than a 10-year term.
Carrier Selection
04
Rates for the same applicant can vary 20–40% between carriers. Different companies have different underwriting niches — a broker who knows these is worth their weight in gold.
Lifestyle Factors
06
Nicotine use, cannabis, hazardous occupations, and hobbies (aviation, diving) are evaluated. Many carriers have evolved on nicotine pouches, cigars, and vaping.
Carrier Intelligence
Cheapest Life Insurance Companies in 2026
​Not every carrier is right for every applicant. Here's what each carrier excels at — and where they're most competitive.
Corebridge Financial
Best Overall Value
A (Excellent)
✓Consistently among the top 2–3 lowest rates across most ages and term lengths
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✓Excellent for ages 30–55 in both 10 and 20-year terms
✓Strong preferred plus and preferred underwriting criteria
✓Competitive for most standard health profiles
Ages 30–55
10 & 20yr
Healthy Applicants
Symetra Life
Best for Older Buyers
A (Excellent)
✓Extremely competitive for healthy applicants — often the single lowest rate
✓Outstanding 20 and 30-year pricing, especially for younger buyers
✓Strong for ages 25–45 across all term lengths
✓Part of Legal & General Group — one of the world's largest insurers
Ages 50–65
​10 & 15yr
Senior Buyers
Banner Life
A+ (Superior)
Most Competitive Pricing
✓Extremely competitive for healthy applicants — often the single lowest rate
✓Outstanding 20 and 30-year pricing, especially for younger buyers
✓Strong for ages 25–45 across all term lengths
✓Part of Legal & General Group — one of the world's largest insurers
Ages 25–45
20 & 30yr
Healthy Only
Pacific Life
​ Best for High Net Worth
A+ (Superior)
✓Excellent for large face amounts ($2M–$10M+)
✓Competitive across 20 and 25-year terms for ages 40–60
✓Strong financial strength — consistently A+ rated for decades
✓Good for business owners and estate planning scenarios
$2M+ Coverage
​Business Owners
Estate Planning
Protective Life
A+ (Superior)
Best Long-Term Value
✓Excellent 30-year term pricing — often neck-and-neck with Banner
✓Strong rates for ages 35–55 with favorable underwriting
✓Good for standard plus applicants with minor health history
✓Consistent pricing stability — rates rarely increase year-over-year
Ages 35–55
30yr Specialist
Standard Plus
Prudential
​Best for Cigar Smokers
A+ (Superior)
✓One of the very few carriers offering non-smoker rates to occasional cigar smokers
✓Strong underwriting flexibility — great for complex medical histories
✓Excellent for large face amounts and business applications
✓One of America's most financially stable insurers
Cigar Smokers
Complex Cases
​High Net Worth
Lincoln Financial
Best Underwriting Flexibility
A+ (Superior)
Known for nuanced underwriting of complex health histories
✓Strong for ages 40–60 across 15–25 year terms
✓Good for applicants with well-controlled chronic conditions
✓Excellent living benefits and rider options
Cincinnati Life
​Best for Nicotine Pouch & Dip Users
A+ (Superior)
✓One of the most competitive carriers for nicotine pouch and chewing tobacco users
✓Favorable underwriting for Zyn, On!, Rogue, and similar products
✓Competitive pricing in 25-year term — rare among carriers in this niche
✓Conservative, highly-rated regional carrier with outstanding claims history
Principal Life
Best for Business Applications
A+ (Superior)
✓Excellent for key man insurance and buy-sell agreements
✓Strong underwriting for business owners with unique income documentation
✓Competitive across 10 and 20-year terms for professional buyers
✓Known for fast, streamlined underwriting process
Foresters Financial
A (Excellent)
Most Inclusive Underwriting
✓One of the most lenient underwriters for moderate health conditions
✓Good option for applicants who've been declined elsewhere
✓No-exam options available for qualified applicants
✓Fraternal benefit society — member benefits included with coverage
FAQ Section
How much does a $1 million life insurance policy cost per month?
A $1 million term life insurance policy can cost as little as about $28 per month for a healthy 30-year-old male and about $23 per month for a healthy 30-year-old female on a 20-year term. The price changes based on age, gender, health class, term length, nicotine use, and the company selected.
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What health class are these life insurance rates based on?
These rates are based on Preferred Non-Tobacco pricing. That means the applicant is generally healthy, does not smoke cigarettes, has a good build, and does not have major health issues. Your actual rate may be higher or lower after underwriting.
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Why do life insurance rates increase with age?
Life insurance gets more expensive as you get older because the insurance company is taking on more risk. A 35-year-old has a much lower chance of dying during a 20-year term than a 55-year-old, so the younger person usually pays much less.
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Is a 10-year, 20-year, or 30-year term better?
A 10-year term is usually the cheapest. A 20-year term is often the best balance of cost and protection. A 30-year term costs more, but it can be a smart choice for younger buyers who want to lock in coverage through their mortgage years or while raising children.
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Why are women’s life insurance rates lower than men’s?
Women usually pay less for life insurance because they statistically live longer than men. Since the insurance company has a lower expected risk, the monthly premium is usually lower for women at the same age and health class.
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What is the cheapest age to buy life insurance?
The cheapest age to buy life insurance is usually as early as possible once you have a need for coverage. Rates are lowest in your 20s and 30s, but the right time to buy is when someone depends on your income, you have a mortgage, or you want to protect your family.
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How much does life insurance cost at age 40?
For a healthy 40-year-old male, a $1 million policy may cost around $46 per month for a 20-year term. For a healthy 40-year-old female, it may cost around $40 per month. Longer terms cost more, while shorter terms usually cost less.
How much does life insurance cost at age 50?
For a healthy 50-year-old male, a $1 million 20-year term may cost around $128 per month. For a healthy 50-year-old female, it may cost around $95 per month. Rates can be much higher if the applicant has health issues or uses tobacco.
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How much does life insurance cost at age 60?
For a healthy 60-year-old male, a $1 million 20-year term may cost around $379 per month. For a healthy 60-year-old female, it may cost around $263 per month. At this age, a 10-year or 15-year term may be more affordable.
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Which life insurance company is cheapest?
There is no single cheapest company for everyone. Corebridge, Banner, Protective, Symetra, Pacific Life, Foresters, Cincinnati Life, Principal, Prudential, and Lincoln can all be competitive depending on age, health, term length, state, and lifestyle factors.
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Why should I compare multiple life insurance companies?
Different companies price the same person differently. One company may view your health history, build, nicotine use, or family history more favorably than another. Comparing multiple carriers helps you avoid overpaying.
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Can nicotine pouch users get non-smoker life insurance rates?
Yes, some nicotine pouch users may qualify for non-smoker rates with the right company. This includes users of products like Zyn, Velo, On!, and Rogue. The key is applying with a carrier that understands nicotine pouches and does not automatically treat them like cigarettes.
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Can cigar smokers get non-smoker life insurance rates?
Yes, some occasional cigar smokers may qualify for non-smoker rates, depending on the company and frequency of use. Each carrier has different rules, so it is important to shop the case correctly before applying.
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Can THC or marijuana users qualify for life insurance?
Yes, many THC or marijuana users can qualify for life insurance. The rate depends on frequency of use, method of use, health history, driving record, and the carrier selected. Some companies are much more favorable than others.
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Are these rates guaranteed?
No. The rates shown are sample market rates based on age, gender, term length, and a Preferred Non-Tobacco health class. Your final rate depends on underwriting, including medical history, prescriptions, build, lifestyle, driving history, and carrier approval.
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Does using LifeStein cost extra?
No. There is no extra cost to use LifeStein. If you buy a policy, the insurance company pays the broker commission. Your premium is not increased because you used LifeStein to compare companies.
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Why use LifeStein instead of going directly to one company?
Going directly to one company only shows you that company’s price. LifeStein compares multiple top-rated life insurance companies to help find the best fit for your age, health, nicotine use, coverage amount, and term length.
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Can LifeStein help if I was declined before?
Yes. A prior decline does not always mean you cannot get coverage. LifeStein can review the reason for the decline and help identify companies that may view the case more favorably.
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What information do I need to get a personalized quote?
You usually need your age, gender, state, height, weight, coverage amount, term length, nicotine or tobacco use, health history, medications, and basic contact information. The more accurate the information, the more accurate the quote.
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What is the best term length for a $1 million life insurance policy?
For many families, a 20-year term is the best balance of affordability and protection. A 30-year term may be better for younger buyers with children or a long mortgage. A 10-year or 15-year term may be better for older buyers or business needs.
$1 Million Life Insurance Rates by Age (20-Year Term)
The rates below show the average monthly cost of a $1 million 20-year term life insurance policy for healthy applicants who qualify for Preferred Non-Tobacco underwriting. Rates are based on 2026 market pricing and may vary by carrier and health profile.
Age 25
A healthy 25-year-old male can expect to pay approximately $28.72 per month for a $1 million 20-year term life insurance policy. A healthy 25-year-old female can expect to pay approximately $21.60 per month.
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Age 26
A healthy 26-year-old male can expect to pay approximately $28.72 per month for a $1 million 20-year term life insurance policy. A healthy 26-year-old female can expect to pay approximately $21.72 per month.
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Age 27
A healthy 27-year-old male can expect to pay approximately $28.72 per month for a $1 million 20-year term life insurance policy. A healthy 27-year-old female can expect to pay approximately $22.12 per month.
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Age 28
A healthy 28-year-old male can expect to pay approximately $28.72 per month for a $1 million 20-year term life insurance policy. A healthy 28-year-old female can expect to pay approximately $22.36 per month.
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Age 29
A healthy 29-year-old male can expect to pay approximately $28.72 per month for a $1 million 20-year term life insurance policy. A healthy 29-year-old female can expect to pay approximately $22.60 per month.
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Age 30
A healthy 30-year-old male can expect to pay approximately $28.72 per month for a $1 million 20-year term life insurance policy. A healthy 30-year-old female can expect to pay approximately $22.76 per month.
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Age 31
A healthy 31-year-old male can expect to pay approximately $29.38 per month for a $1 million 20-year term life insurance policy. A healthy 31-year-old female can expect to pay approximately $23.68 per month.
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Age 32
A healthy 32-year-old male can expect to pay approximately $30.06 per month for a $1 million 20-year term life insurance policy. A healthy 32-year-old female can expect to pay approximately $24.69 per month.
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Age 33
A healthy 33-year-old male can expect to pay approximately $30.73 per month for a $1 million 20-year term life insurance policy. A healthy 33-year-old female can expect to pay approximately $25.70 per month.
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Age 34
A healthy 34-year-old male can expect to pay approximately $31.40 per month for a $1 million 20-year term life insurance policy. A healthy 34-year-old female can expect to pay approximately $26.71 per month.
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Age 35
A healthy 35-year-old male can expect to pay approximately $32.10 per month for a $1 million 20-year term life insurance policy. A healthy 35-year-old female can expect to pay approximately $27.13 per month.
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Age 36​
A healthy 36-year-old male can expect to pay approximately $34.65 per month for a $1 million 20-year term life insurance policy. A healthy 36-year-old female can expect to pay approximately $29.76 per month.
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Age 37
A healthy 37-year-old male can expect to pay approximately $37.76 per month for a $1 million 20-year term life insurance policy. A healthy 37-year-old female can expect to pay approximately $32.13 per month.
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Age 38
A healthy 38-year-old male can expect to pay approximately $41.00 per month for a $1 million 20-year term life insurance policy. A healthy 38-year-old female can expect to pay approximately $34.55 per month.
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Age 39
A healthy 39-year-old male can expect to pay approximately $44.18 per month for a $1 million 20-year term life insurance policy. A healthy 39-year-old female can expect to pay approximately $36.93 per month.
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Age 40
A healthy 40-year-old male can expect to pay approximately $46.38 per month for a $1 million 20-year term life insurance policy. A healthy 40-year-old female can expect to pay approximately $39.91 per month.
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Age 41
A healthy 41-year-old male can expect to pay approximately $49.88 per month for a $1 million 20-year term life insurance policy. A healthy 41-year-old female can expect to pay approximately $43.74 per month.
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Age 42
A healthy 42-year-old male can expect to pay approximately $57.76 per month for a $1 million 20-year term life insurance policy. A healthy 42-year-old female can expect to pay approximately $48.83 per month.
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Age 43
A healthy 43-year-old male can expect to pay approximately $64.76 per month for a $1 million 20-year term life insurance policy. A healthy 43-year-old female can expect to pay approximately $53.38 per month.
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Age 44
A healthy 44-year-old male can expect to pay approximately $74.60 per month for a $1 million 20-year term life insurance policy. A healthy 44-year-old female can expect to pay approximately $59.01 per month.
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Age 45
A healthy 45-year-old male can expect to pay approximately $83.65 per month for a $1 million 20-year term life insurance policy. A healthy 45-year-old female can expect to pay approximately $64.76 per month.
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Age 46
A healthy 46-year-old male can expect to pay approximately $89.38 per month for a $1 million 20-year term life insurance policy. A healthy 46-year-old female can expect to pay approximately $69.22 per month.
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Age 47
A healthy 47-year-old male can expect to pay approximately $97.87 per month for a $1 million 20-year term life insurance policy. A healthy 47-year-old female can expect to pay approximately $75.89 per month.
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Age 48
A healthy 48-year-old male can expect to pay approximately $107.13 per month for a $1 million 20-year term life insurance policy. A healthy 48-year-old female can expect to pay approximately $81.89 per month.
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Age 49
A healthy 49-year-old male can expect to pay approximately $116.83 per month for a $1 million 20-year term life insurance policy. A healthy 49-year-old female can expect to pay approximately $87.88 per month.
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Age 50
A healthy 50-year-old male can expect to pay approximately $127.59 per month for a $1 million 20-year term life insurance policy. A healthy 50-year-old female can expect to pay approximately $95.39 per month.
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Age 51
A healthy 51-year-old male can expect to pay approximately $140.35 per month for a $1 million 20-year term life insurance policy. A healthy 51-year-old female can expect to pay approximately $104.63 per month.
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Age 52
A healthy 52-year-old male can expect to pay approximately $155.02 per month for a $1 million 20-year term life insurance policy. A healthy 52-year-old female can expect to pay approximately $116.96 per month.
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Age 53
A healthy 53-year-old male can expect to pay approximately $173.12 per month for a $1 million 20-year term life insurance policy. A healthy 53-year-old female can expect to pay approximately $129.27 per month.
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Age 54
A healthy 54-year-old male can expect to pay approximately $192.09 per month for a $1 million 20-year term life insurance policy. A healthy 54-year-old female can expect to pay approximately $141.59 per month.
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Age 55
A healthy 55-year-old male can expect to pay approximately $214.51 per month for a $1 million 20-year term life insurance policy. A healthy 55-year-old female can expect to pay approximately $157.00 per month.
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Age 56
A healthy 56-year-old male can expect to pay approximately $238.59 per month for a $1 million 20-year term life insurance policy. A healthy 56-year-old female can expect to pay approximately $174.69 per month.
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Age 57
A healthy 57-year-old male can expect to pay approximately $266.29 per month for a $1 million 20-year term life insurance policy. A healthy 57-year-old female can expect to pay approximately $193.97 per month.
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Age 58
A healthy 58-year-old male can expect to pay approximately $300.56 per month for a $1 million 20-year term life insurance policy. A healthy 58-year-old female can expect to pay approximately $214.72 per month.
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Age 59
A healthy 59-year-old male can expect to pay approximately $336.40 per month for a $1 million 20-year term life insurance policy. A healthy 59-year-old female can expect to pay approximately $240.99 per month.
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Age 60
A healthy 60-year-old male can expect to pay approximately $378.71 per month for a $1 million 20-year term life insurance policy. A healthy 60-year-old female can expect to pay approximately $262.62 per month.
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Age 61
A healthy 61-year-old male can expect to pay approximately $431.98 per month for a $1 million 20-year term life insurance policy. A healthy 61-year-old female can expect to pay approximately $303.93 per month.
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Age 62
A healthy 62-year-old male can expect to pay approximately $500.99 per month for a $1 million 20-year term life insurance policy. A healthy 62-year-old female can expect to pay approximately $340.97 per month.
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Age 63
A healthy 63-year-old male can expect to pay approximately $560.05 per month for a $1 million 20-year term life insurance policy. A healthy 63-year-old female can expect to pay approximately $388.95 per month.
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Age 64
A healthy 64-year-old male can expect to pay approximately $637.38 per month for a $1 million 20-year term life insurance policy. A healthy 64-year-old female can expect to pay approximately $437.53 per month.
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Age 65
A healthy 65-year-old male can expect to pay approximately $729.94 per month for a $1 million 20-year term life insurance policy. A healthy 65-year-old female can expect to pay approximately $491.33 per month.
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Rates shown are averages of the lowest available market pricing for applicants qualifying for Preferred Non-Tobacco underwriting. Rates are subject to change and individual underwriting approval. LifeStein compares rates from more than 50 life insurance companies to help consumers find the best available pricing.