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How Much Does $1 Million Life Insurance Cost for a 38-Year-Old Male? Full 2025 Rates
- mattmims
- Dec 2
- 5 min read
If you’re 38 years old and looking for a $1 million life insurance policy, the first question you probably have is simple: How much does it cost? The answer depends on the term length you choose. A 10-year policy is usually the cheapest, a 20-year term is the most common, and a 30-year term gives you the longest guaranteed rate — all at different price points.
To make this easy, we pulled the full market rates from every major life insurance company for a healthy 38-year-old male. Below, you’ll see real quotes from Symetra, Corebridge, Pacific Life, Banner Life, Protective, MassMutual, Nationwide, Lincoln, Principal, North American, John Hancock, and many more. These charts show exactly what each company charges for 10-year, 20-year, and 30-year term life insurance at the $1 million coverage level.
If you want fast, unbiased pricing from all carriers in one place, LifeStein.com lets you compare over 50 companies instantly and apply online in minutes. Now let’s look at what $1 million in life insurance really costs at age 38.
Age 38 Male $1 Million Life Insurance Policy (10-Year Term) 38 Year Old Male
Company | Product | AM Best | Monthly |
Symetra | SwiftTerm | A | $23.20 |
Corebridge | Select-a-Term | A | $23.63 |
Pacific Life | Promise Term | A+ | $23.78 |
Principal | Term (Non-Convertible) | A+ | $24.07 |
Protective | Classic Choice Term | A+ | $25.87 |
Nationwide | Guaranteed Level Term | A+ | $26.69 |
Minnesota Life | Advantage Elite Select | A+ | $27.72 |
Prudential | Essential Term Value | A+ | $28.44 |
North American | ADDvantage | A+ | $29.48 |
Lincoln | TermAccel | A | $29.52 |
Banner | OPTerm | A+ | $29.51 |
United of Omaha | Term Life Answers | A+ | $31.18 |
MassMutual | MassMutual Term | A++ | $31.76 |
John Hancock | Protection Term | A+ | $31.76 |
Foresters | Your Term | A | $33.26 |
Cincinnati Life | Termsetter | A+ | $34.22 |
Assurity | Term Life | A- | $46.11 |
The 10-year term chart shows the cheapest $1 million life insurance rates for a 38-year-old male across every major carrier. Symetra, Corebridge, Pacific Life, Principal, Protective, and Nationwide lead the market with rates in the low $20s per month, followed by Minnesota Life, Prudential, North American, Lincoln, Banner, and United of Omaha. MassMutual and John Hancock appear in the mid-$30 range, while Assurity is the most expensive in this tier. This chart helps compare short-term coverage options with the lowest pricing available.
Age 38 Male $1 Million Life Insurance Policy (20-Year Term) 38 Year Old Male
Company | Product | AM Best | Monthly |
Symetra | SwiftTerm | A | $41.17 |
Protective | Classic Choice Term | A+ | $41.17 |
Corebridge | Select-a-Term | A | $41.11 |
Principal | Term (Non-Convertible) | A+ | $41.86 |
Pacific Life | Promise Term | A+ | $41.38 |
Banner | OPTerm | A+ | $41.65 |
Symetra | SwiftTerm (CER) | A | $43.67 |
Principal | Convertible | A+ | $43.00 |
Minnesota Life | Advantage Elite Select | A+ | $48.37 |
Nationwide | Guaranteed Level Term | A+ | $48.56 |
Lincoln | TermAccel | A | $48.01 |
Cincinnati Life | Termsetter | A+ | $50.28 |
North American | ADDvantage | A+ | $52.36 |
MassMutual | MassMutual Term | A++ | $54.38 |
Foresters | Your Term | A | $53.38 |
John Hancock | Protection Term | A+ | $53.16 |
Prudential | Essential Term Value | A+ | $54.69 |
United of Omaha | Term Life Answers | A+ | $56.12 |
Assurity | Term Life | A- | $71.34 |
The 20-year term chart compares full-market pricing for $1 million of coverage for a 38-year-old male over a longer guaranteed period. The lowest rates cluster around $41–$43 per month from Symetra, Protective, Corebridge, Principal, Pacific Life, and Banner. Mid-market carriers like Minnesota Life, Nationwide, Lincoln, Cincinnati Life, and North American populate the next tier. Higher-priced options from MassMutual, John Hancock, Prudential, and United of Omaha show the range of underwriting and pricing differences over a 20-year horizon. This chart clearly displays how rates rise with longer protection periods.
Age 38 Male $1 Million Life Insurance Policy (30-Year Term) 38 Year Old Male
Company | Product | AM Best | Monthly |
Banner | OPTerm | A+ | $77.78 |
Protective | Classic Choice Term | A+ | $77.79 |
Symetra | SwiftTerm | A | $77.79 |
Corebridge | Select-a-Term | A | $77.34 |
Pacific Life | Promise Term | A+ | $78.31 |
Symetra | SwiftTerm (CER) | A | $80.68 |
Principal | Term | A+ | $86.86 |
Nationwide | Guaranteed Level Term | A+ | $89.69 |
Lincoln | TermAccel | A | $88.20 |
Prudential | Essential Term Value | A+ | $90.57 |
North American | ADDvantage | A+ | $91.08 |
Minnesota Life | Advantage Elite Select | A+ | $91.61 |
Protective | Classic Choice (CER) | A+ | $91.39 |
Principal | Convertible Extension | A+ | $95.40 |
Lincoln | LifeElements | A | $95.88 |
United of Omaha | Term Life Answers | A+ | $97.40 |
MassMutual | MassMutual Term | A++ | $103.10 |
John Hancock | Vitality Term | A+ | $110.12 |
Assurity | Term Life | A- | $106.14 |
John Hancock | Protection Term | A+ | $116.26 |
The 30-year term chart highlights the cheapest long-term $1 million policies available to a 38-year-old male. Banner, Protective, Symetra, Corebridge, and Pacific Life offer the most competitive pricing in the upper $70 range. Mid-level premiums from carriers like Principal, Nationwide, Lincoln, Prudential, North American, and Minnesota Life show how rates increase with extended coverage. Higher-priced options from MassMutual, John Hancock, and Assurity reflect the long-term risk that insurers take on. This chart helps buyers compare true lifetime-style term coverage options locked in for 30 years.
FAQ for Buying Life Insurance at 38-Years Old
1. How much does a 10-year $1 million policy cost at age 38 with Symetra?
$23.20 per month.
2. What does Corebridge charge for a 10-year $1 million policy for a 38-year-old?
$23.63 per month.
3. What is the 10-year $1 million rate with Pacific Life at age 38?
$23.78 per month.
4. How much does Protective Life cost for a 10-year $1 million policy at 38?
$25.87 per month.
5. What does Nationwide charge for a 10-year $1 million policy for a 38-year-old male?
$26.69 per month.
6. How much is Banner Life for a 10-year $1 million policy at age 38?
$29.51 per month.
7. How much does Symetra charge for a 20-year $1 million term at age 38?
$41.17 per month.
8. What does Protective cost for a 20-year $1 million term for a 38-year-old?
$41.17 per month.
9. How much is a 20-year $1 million policy at age 38 with Corebridge?
$41.11 per month.
10. What does Pacific Life charge for a 20-year $1 million policy at 38?
$41.38 per month.
11. How much is Nationwide for a 20-year $1 million policy for a 38-year-old?
$48.56 per month.
12. What does Lincoln charge for a 20-year $1 million plan at age 38?
$48.01 per month.
13. How much does Banner Life charge for a 30-year $1 million policy at age 38?
$77.78 per month.
14. What is Protective Life’s 30-year $1 million rate for a 38-year-old?
$77.79 per month.
15. How much does Symetra cost for a 30-year $1 million term at age 38?
$77.79 per month.
16. What does Corebridge charge for a 30-year $1 million policy at age 38?
$77.34 per month.
17. How much is Pacific Life for a 30-year $1 million policy at age 38?
$78.31 per month.
18. What is the Nationwide 30-year $1 million premium for a 38-year-old male?
$89.69 per month.
19. Is age 38 a good time to buy life insurance?
Yes. Rates are still low at 38, and locking in a 20- or 30-year term avoids higher premiums later.
20. How much coverage do most 38-year-olds buy?
Many choose between $500,000 and $1 million, depending on income, debts, and family size.
21. Does nicotine use increase life insurance rates for 38-year-olds?
Yes. Nicotine pouches, vaping, cigarettes, or cigars can significantly increase premiums.
22. Can a 38-year-old qualify for no-exam life insurance?
Yes. Carriers like Symetra, Lincoln, and Corebridge often approve healthy applicants without an exam.
23. Do life insurance premiums increase a lot after age 38?
Yes. Moving from age 38 to 40 can raise rates by 10–20 percent depending on the company.
24. Should a 38-year-old buy a 20-year or 30-year policy?
20-year terms cover your highest earnings and child-raising years, while 30-year terms offer long-term protection through your 60s.
25. What factors affect life insurance cost the most at age 38?
Health history, nicotine use, height/weight, medications, term length, and the company you choose.
Matt Mims
CEO/Founder of LifeStein.com
(601)-218-7854 (call/text)
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