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How Much Does $3 Million Term Life Insurance Cost at Age 50? (Full 2026 Market Rates)
- mattmims
- Dec 29, 2025
- 8 min read
If you’re 50 years old and considering $3 million of term life insurance, pricing can vary dramatically depending on the term length and the insurance company you choose. At this coverage level, even small underwriting differences can translate into hundreds of dollars per month in premium savings or extra cost.
The charts below show real, full-market life insurance rates for 2026, comparing top-rated U.S. carriers offering $3,000,000 term policies to a 50-year-old male in good health. Rather than highlighting a single company or “average” estimate, this data reflects actual monthly pricing across the market, so you can see how costs change as you move from 10-year coverage to 30-year protection.
Whether you’re protecting a growing family, replacing income, or planning around long-term financial obligations, understanding how term length impacts cost at age 50 is critical. Reviewing the full market side-by-side allows you to identify where meaningful savings exist — and which carriers are most competitive at higher face amounts in 2026.
10-Year Term Life Insurance Rates for $3,000,000 at Age 50 (2026 Full Market)
Company | Product | Monthly Cost |
Symetra | SwiftTerm Instant Issue | $193.22 |
Protective Life | Classic Choice Term | $195.01 |
Corebridge Financial | Select-A-Term (SimpliNow) | $195.10 |
Pacific Life | Promise Term | $196.17 |
Principal | Term (Non-Convertible) | $196.70 |
Banner Life | OPTerm | $206.93 |
Lincoln Financial | LifeElements Level Term | $209.71 |
Nationwide | Guaranteed Level Term | $213.94 |
North American | ADDvantage Term Gen 9 | $227.48 |
Prudential | Essential Term Value | $227.94 |
Cincinnati Life | Termsetter | $231.11 |
Minnesota Life | Advantage Elite Select | $245.96 |
MassMutual | MassMutual Term | $249.26 |
United of Omaha | Term Life Answers | $263.38 |
Foresters | Your Term (Medical) | $271.26 |
National Life Group | LSW-10G | $275.88 |
John Hancock | Vitality Term | $312.34 |
Assurity Life | Term Life Insurance | $334.95 |
This chart shows 2026 full-market monthly pricing for a $3 million 10-year term life insurance policy for a 50-year-old male in good health. Rates are shown across top-rated U.S. life insurance carriers, using each company’s best available non-tobacco class, and highlight how much pricing can vary even for shorter-term coverage.
15-Year Term Life Insurance Rates for $3,000,000 at Age 50 (2026 Full Market)
Company | Product | Monthly Cost |
Banner Life | OPTerm | $286.03 |
Symetra | SwiftTerm Instant Issue | $286.47 |
Corebridge Financial | Select-A-Term | $286.97 |
Protective Life | Classic Choice Term | $289.52 |
Pacific Life | Promise Term | $290.59 |
Principal | Term (Non-Convertible) | $290.23 |
Lincoln Financial | LifeElements Level Term | $307.11 |
Cincinnati Life | Termsetter | $314.76 |
North American | ADDvantage Term Gen 9 | $327.80 |
Prudential | Essential Term Value | $325.07 |
Minnesota Life | Advantage Elite Select | $338.92 |
Nationwide | Guaranteed Level Term | $347.81 |
John Hancock | Vitality Term | $355.54 |
United of Omaha | Term Life Answers | $371.74 |
National Life Group | LSW-15G | $386.76 |
Foresters | Your Term (Medical) | $392.01 |
Assurity Life | Term Life Insurance | $426.30 |
MassMutual | MassMutual Term | $429.35 |
This table displays 2026 monthly premiums for a $3 million 15-year term life policy at age 50, comparing leading carriers across the entire U.S. market. It illustrates how extending coverage beyond 10 years increases cost while still remaining significantly lower than longer 20- and 30-year terms.
20-Year Term Life Insurance Rates for $3,000,000 at Age 50 (2026 Full Market)
Company | Product | Monthly Cost |
Banner Life | OPTerm | $372.55 |
Symetra | SwiftTerm Instant Issue | $372.98 |
Protective Life | Classic Choice Term | $373.94 |
Corebridge Financial | Select-A-Term | $371.94 |
Pacific Life | Promise Term | $377.77 |
Principal | Term (Non-Convertible) | $378.79 |
Lincoln Financial | LifeElements Level Term | $409.30 |
Nationwide | Guaranteed Level Term | $423.94 |
Prudential | Essential Term Value | $432.69 |
Cincinnati Life | Termsetter | $421.23 |
North American | ADDvantage Term Gen 9 | $441.32 |
Minnesota Life | Advantage Elite Select | $446.09 |
MassMutual | MassMutual Term | $463.28 |
John Hancock | Vitality Term | $464.74 |
Foresters | Your Term (Medical) | $473.38 |
National Life Group | LSW-20G | $479.16 |
United of Omaha | Term Life Answers | $518.80 |
Assurity Life | Term Life Insurance | $554.19 |
This chart outlines full-market 2026 pricing for a $3,000,000 20-year term policy for a 50-year-old male, a common choice for income replacement and long-term family protection. The data shows how carrier underwriting differences can create meaningful monthly price gaps at higher coverage levels.
25-Year Term Life Insurance Rates for $3,000,000 at Age 50 (2026 Full Market)
Company | Product | Monthly Cost |
Corebridge Financial | Select-A-Term | $583.57 |
Banner Life | OPTerm | $586.41 |
Protective Life | Classic Choice Term | $586.85 |
Pacific Life | Promise Term | $590.69 |
Cincinnati Life | Termsetter | $634.17 |
MassMutual | MassMutual Term | $726.89 |
Foresters | Your Term (Medical) | $749.01 |
Assurity Life | Term Life Insurance | $763.43 |
This table shows 2026 monthly life insurance rates for a $3 million 25-year term policy at age 50, a less common but increasingly requested option for extended financial planning. Because fewer carriers offer 25-year terms, this chart highlights both availability and pricing spread across the full market.
30-Year Term Life Insurance Rates for $3,000,000 at Age 50 (2026 Full Market)
Company | Product | Monthly Cost |
Corebridge Financial | Select-A-Term | $700.00 |
Banner Life | OPTerm | $699.90 |
Symetra | SwiftTerm Instant Issue | $700.33 |
Protective Life | Classic Choice Term | $703.94 |
Pacific Life | Promise Term | $710.89 |
Principal | Term (Non-Convertible) | $732.72 |
Lincoln Financial | LifeElements Level Term | $743.87 |
Nationwide | Guaranteed Level Term | $794.06 |
Cincinnati Life | Termsetter | $796.41 |
Prudential | Essential Term Plus | $850.07 |
North American | ADDvantage Term Gen 9 | $855.80 |
Minnesota Life | Advantage Elite Select | $843.03 |
National Life Group | LSW-30G | $906.84 |
MassMutual | MassMutual Term | $909.59 |
United of Omaha | Term Life Answers | $908.38 |
Assurity Life | Term Life Insurance | $966.57 |
John Hancock | Vitality Term | $964.24 |
This chart presents 2026 full-market pricing for a $3,000,000 30-year term life insurance policy for a 50-year-old male. It demonstrates the highest-cost term option, reflecting the increased insurer risk of locking in rates through age 80, and shows how prices vary widely by carrier and product design.
What This $3 Million Rate Data Shows (2026 Market Takeaways)
At age 50, the difference between the cheapest and most expensive carriers for a $3 million term policy can exceed several hundred dollars per month, even when applicants qualify for strong non-tobacco health classes. The 2026 data clearly shows that pricing gaps widen as term length increases, making carrier selection more important at higher face amounts.
Shorter terms, such as 10- and 15-year policies, tend to offer the highest cost efficiency per dollar of coverage, while longer terms trade affordability for extended rate guarantees. For many buyers at age 50, the optimal balance comes down to how long income replacement or estate obligations truly need to last.
Why Term Length Has Such a Big Impact at Age 50
Term length is the single biggest driver of cost at this age. A 30-year term locks pricing through age 80, dramatically increasing insurer risk compared to a 10- or 15-year policy. As a result, premiums rise steeply with each additional five years of coverage.
This is why many 50-year-old applicants strategically choose:
10- or 15-year terms for debt payoff or short-term protection
20-year terms for dependent children or income replacement
25- or 30-year terms only when long-term guarantees are truly necessary
Choosing a longer term than needed often results in paying significantly more for coverage years that may never be used.
Why Prices Vary So Much Between Insurance Companies
Even when two policies look similar on paper, insurers evaluate risk differently. Some companies are more competitive at higher face amounts, while others price aggressively for shorter terms or specific health profiles.
Key pricing drivers include:
Internal underwriting models
Preferred vs. Super Preferred class availability
How carriers price large policies ($1M+)
Conversion options and rider structures
This is why “average life insurance cost” estimates are misleading — carrier selection matters more than age alone, especially at $3 million coverage levels.
How LifeStein Helps You Secure the Best $3M Rates
LifeStein works with 50+ top-rated life insurance carriers, allowing us to compare the entire market rather than steering you toward a single company. We specialize in high-face-amount term policies and understand which insurers are most competitive at age 50 in 2026.
You’ll work directly with the owner, not a call center, and receive transparent guidance on term length, underwriting expectations, and how to position your application for the strongest possible rate class.
Important Assumptions Behind These Charts
To keep comparisons accurate, these charts assume:
Male, age 50
Non-tobacco / strong health classification
Level term life insurance
Rates shown reflect 2026 market pricing
Actual rates vary by state, health, and underwriting outcomes
Individual results may differ, but the data provides a realistic market baseline for planning and comparison.
Frequently Asked Questions About $3 Million Term Life Insurance at Age 50
How much does a $3 million term life insurance policy cost at age 50?
In 2026, a healthy 50-year-old male can expect to pay roughly $190–$230 per month for a 10-year term, $285–$325 per month for a 15-year term, $370–$430 per month for a 20-year term, and significantly more for 25- and 30-year policies. Exact pricing depends on health class, term length, and carrier selection.
What is the cheapest term length for $3 million of coverage at age 50?
The 10-year term is the least expensive option at age 50, followed closely by 15-year policies. Shorter terms carry lower premiums because insurers take on less long-term risk compared to locking in rates through age 70 or 80.
Is $3 million of life insurance a lot at age 50?
$3 million is considered high coverage, but it’s very common for business owners, high-income professionals, and families relying on one primary earner. At age 50, many people use $3 million policies to replace income, cover business obligations, or provide long-term financial security for dependents.
Can I qualify for Preferred or Preferred Plus rates at age 50?
Yes. Many 50-year-olds still qualify for Preferred Plus or Super Preferred non-tobacco rates if they are in good health, maintain a favorable height-to-weight ratio, and have no major medical issues. This is why full underwriting and carrier selection matter so much.
Why do $3 million life insurance rates vary so much between companies?
Each insurance company prices risk differently. Some carriers are more competitive at high face amounts, while others focus on smaller policies. Differences in underwriting guidelines, internal risk models, and conversion features can lead to hundreds of dollars per month in pricing differences for the same applicant.
Is a medical exam required for a $3 million policy?
In most cases, yes. At $3 million of coverage, insurers typically require a full underwriting process, including a medical exam and labs. Some carriers may offer accelerated underwriting for exceptionally strong profiles, but exams are still common at this coverage level.
Should I choose a 20-year or 30-year term at age 50?
That depends on how long you actually need coverage. A 20-year term often provides a better balance of cost and protection for income replacement, while a 30-year term is significantly more expensive and usually only makes sense if coverage is needed through age 80.
Will rates increase if I wait another year to apply?
Yes. Life insurance premiums increase with age, and waiting until 51 can noticeably raise the cost — especially for longer terms. Locking in coverage at age 50 allows you to secure lower rates for the entire term.
Does state location affect $3 million term life insurance rates?
Yes. Rates vary slightly by state due to regulatory differences and carrier pricing adjustments. The charts above reflect market pricing for a specific state and profile, but actual quotes may differ depending on where you live.
Can I ladder multiple policies instead of buying one $3 million term?
Yes. Many applicants use a policy laddering strategy, combining multiple smaller policies with different term lengths to reduce overall cost while maintaining sufficient coverage during peak earning years.
What happens when a $3 million term life policy expires?
When the term ends, coverage typically expires unless the policy includes a conversion option. Some policies allow you to convert part or all of the coverage to permanent insurance without new underwriting before a certain age.
Is $3 million term life insurance harder to get approved?
It can be. Larger policies receive closer underwriting scrutiny, especially around income justification and medical history. Working with a broker who understands jumbo underwriting can significantly improve approval odds.
How do I make sure I’m getting the best $3 million rate?
You need access to the full life insurance market, not just one or two carriers. Comparing multiple insurers, term lengths, and underwriting niches is the only way to ensure you’re not overpaying.
Is $3 million term life insurance worth it at age 50?
For the right situation, yes. If others rely on your income, business value, or long-term financial support, a $3 million policy can provide meaningful protection — especially when structured correctly using competitive 2026 rates.
Can I apply online for a $3 million policy?
Yes, but higher coverage amounts still require human review, underwriting coordination, and carrier matching. Online tools help with comparison, but expert guidance matters more at this level.
Matt Mims
Founder of LifeStein.com, A National Life Insurance Brokerage
Call/Text (601)-218-7854
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