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Life Insurance Rates by Company: $1 Million, 20-Year Term Prices by Age and Health Class
How much does a $1 million life insurance policy cost—and which company offers the lowest price? In LifeStein’s comparison of nine carriers, a 30-year-old man qualifying for Preferred Plus pricing has a lowest illustrated premium of $24.06 per month, while a woman of the same age has a lowest illustrated premium of $22.81 per month for a 20-year term. At age 50, those figures are $127.59 for men and $95.35 for women.
Those are the lowest quoted premiums in the specific comparisons below, not averages. The lowest-priced company changes with age, sex, and underwriting classification. The company leading a Preferred Plus comparison may not lead the same comparison at Standard.
This guide brings together 504 monthly premium entries across nine carriers, seven ages, and four comparison categories: Preferred Plus, Preferred, Standard Plus, and Standard. It shows both the lowest listed prices and the alternatives alongside them, so you can see how closely—or how differently—companies price the same amount and duration of coverage.
What these life insurance rate tables compare
Every premium below is a monthly quote for $1,000,000 of coverage with a 20-year term, at ages 30, 35, 40, 45, 50, 55, and 60. The comparisons include Pacific Life, Symetra SwiftTerm, Protective, Banner, Cincinnati Life, Prudential, Lincoln, Corebridge, and Transamerica.
The first two tables show Preferred Plus pricing. The remaining tables show Preferred, Standard Plus comparisons, and Standard pricing. Bold prices identify the lowest premium in each row among the nine listed options.
An important classification detail: the Lincoln, Protective, and Symetra SwiftTerm products quoted here do not offer a separate Standard Plus class. Their Standard premiums are shown in the Standard Plus comparison tables, marked with an asterisk. Those tables therefore compare Standard Plus prices where available with Standard alternatives; they do not represent nine identical underwriting classifications.
Symetra SwiftTerm is the specific product shown throughout this article. Its quotes should not be read as quotes for Symetra’s separate traditional term product. SwiftTerm offers a digital application process and a no-exam path for qualifying applicants. A no-exam outcome is not guaranteed for every applicant; Symetra’s SwiftTerm client guide also describes a full-underwriting path that can require an exam.
The quoted classes are non-tobacco comparison categories. Do not assume that a particular nicotine-use history qualifies for these prices. Exact carrier class names, eligibility requirements, and final offers can differ.
For other term lengths, visit our $1 million life insurance cost guide. For more background on the coverage period, see 20-year term life insurance rates by age.
Quick comparison: lowest Preferred Plus rates by age
If you qualify for the top health classification represented in this comparison, these are the lowest monthly premiums among the nine listed carriers.
Age | Men: lowest monthly premium | Company | Women: lowest monthly premium | Company |
30 | $24.06 | Banner | $22.81 | Corebridge |
35 | $32.10 | Corebridge | $27.88 | Corebridge |
40 | $48.13 | Protective | $39.87 | Banner |
45 | $81.76 | Banner | $63.23 | Banner |
50 | $127.59 | Corebridge | $95.35 | Banner |
55 | $214.51 | Corebridge | $153.24 | Banner |
60 | $378.66 | Banner | $263.99 | Banner |
The winner is not always far ahead. For a 40-year-old woman, Banner is $39.87, Protective is $39.88, Pacific Life is $39.89, and Symetra SwiftTerm is $39.91. Four cents per month separates those four quotes. When prices are that close, the applicable underwriting path and policy features deserve attention alongside the premium.
Preferred Plus life insurance rates by company
Preferred Plus is the top pricing category used in these tables. These quotes are useful as a best-health benchmark, but they should not be treated as the price every applicant will receive.
Preferred Plus rates for men: $1 million, 20-year term
Monthly premiums; lowest listed premium in each row is bold.
Age | Pacific Life | Symetra SwiftTerm | Protective | Banner | Cincinnati Life | Prudential | Lincoln | Corebridge | Transamerica |
30 | $28.86 | $28.87 | $28.85 | $24.06 | $33.38 | $38.94 | $35.46 | $28.72 | $28.90 |
35 | $32.26 | $32.26 | $32.25 | $34.06 | $40.98 | $44.19 | $38.67 | $32.10 | $32.30 |
40 | $48.14 | $48.16 | $48.13 | $48.44 | $58.73 | $62.57 | $56.82 | $48.45 | $48.45 |
45 | $84.08 | $84.10 | $81.77 | $81.76 | $89.99 | $90.57 | $94.69 | $83.65 | $84.15 |
50 | $128.28 | $128.30 | $128.26 | $128.25 | $144.07 | $149.19 | $155.12 | $127.59 | $128.35 |
55 | $215.71 | $215.73 | $214.79 | $214.78 | $242.09 | $252.44 | $240.03 | $214.51 | $230.35 |
60 | $378.71 | $378.72 | $378.67 | $378.66 | $455.03 | $473.82 | $394.78 | $378.76 | $482.80 |
Preferred Plus rates for women: $1 million, 20-year term
Monthly premiums; lowest listed premium in each row is bold.
Age | Pacific Life | Symetra SwiftTerm | Protective | Banner | Cincinnati Life | Prudential | Lincoln | Corebridge | Transamerica |
30 | $22.88 | $22.90 | $22.87 | $22.86 | $25.77 | $30.19 | $26.85 | $22.81 | $22.95 |
35 | $27.98 | $28.00 | $27.97 | $27.97 | $33.38 | $37.19 | $30.65 | $27.88 | $28.05 |
40 | $39.89 | $39.91 | $39.88 | $39.87 | $46.90 | $51.19 | $43.09 | $40.22 | $39.95 |
45 | $65.39 | $65.41 | $63.24 | $63.23 | $69.71 | $69.57 | $69.83 | $65.40 | $65.45 |
50 | $95.37 | $95.39 | $95.36 | $95.35 | $105.20 | $113.32 | $102.98 | $95.44 | $96.05 |
55 | $156.98 | $157.00 | $153.25 | $153.24 | $171.96 | $180.69 | $165.97 | $157.06 | $165.75 |
60 | $264.01 | $264.02 | $264.00 | $263.99 | $313.92 | $325.94 | $273.67 | $264.06 | $384.20 |
For men, the lowest Preferred Plus quote shifts among Banner, Corebridge, and Protective across the ages shown. For women, Corebridge leads at ages 30 and 35, while Banner leads at ages 40 through 60. This is why a single “cheapest life insurance company” label cannot fully describe even this one coverage amount and term length.
Preferred life insurance rates by company
Preferred provides a separate comparison for applicants who qualify for this class rather than Preferred Plus. Keeping the coverage amount and term unchanged makes it easier to see the pricing effect of the classification.
For a 40-year-old man, the lowest listed Preferred quote is Corebridge at $61.68 per month, compared with $48.13 from Protective in the Preferred Plus table. For a 40-year-old woman, the lowest listed Preferred quote is $50.59 from Corebridge, compared with $39.87 from Banner at Preferred Plus. These are comparisons between illustrated classes, not predictions of an individual applicant’s eligibility.
Preferred rates for men: $1 million, 20-year term
Monthly premiums; lowest listed premium in each row is bold.
Age | Pacific Life | Symetra SwiftTerm | Protective | Banner | Cincinnati Life | Prudential | Lincoln | Corebridge | Transamerica |
30 | $39.88 | $39.90 | $39.87 | $39.86 | $42.67 | $50.32 | $44.62 | $39.71 | $39.95 |
35 | $43.28 | $43.30 | $43.27 | $43.26 | $48.59 | $58.19 | $51.37 | $43.09 | $43.35 |
40 | $61.98 | $62.00 | $61.97 | $61.96 | $69.71 | $77.44 | $72.23 | $61.68 | $62.05 |
45 | $101.08 | $101.10 | $99.02 | $99.01 | $108.58 | $109.82 | $101.08 | $100.55 | $101.15 |
50 | $156.33 | $156.35 | $156.31 | $156.30 | $170.27 | $178.07 | $156.33 | $155.47 | $156.40 |
55 | $250.92 | $250.94 | $250.83 | $250.82 | $280.12 | $287.44 | $250.92 | $249.51 | $275.40 |
60 | $443.27 | $443.29 | $443.26 | $443.25 | $526.01 | $562.19 | $443.27 | $443.34 | $548.25 |
Preferred rates for women: $1 million, 20-year term
Monthly premiums; lowest listed premium in each row is bold.
Age | Pacific Life | Symetra SwiftTerm | Protective | Banner | Cincinnati Life | Prudential | Lincoln | Corebridge | Transamerica |
30 | $30.53 | $30.55 | $30.52 | $30.51 | $32.53 | $39.82 | $33.33 | $30.41 | $30.60 |
35 | $35.63 | $35.65 | $35.62 | $35.61 | $39.29 | $44.19 | $36.24 | $35.48 | $35.70 |
40 | $50.83 | $50.85 | $50.82 | $50.81 | $54.50 | $59.07 | $53.76 | $50.59 | $51.00 |
45 | $76.43 | $76.45 | $74.63 | $74.62 | $82.39 | $82.69 | $76.43 | $76.04 | $76.50 |
50 | $114.73 | $114.75 | $114.72 | $114.71 | $126.33 | $135.19 | $114.73 | $115.42 | $115.60 |
55 | $183.98 | $184.00 | $180.88 | $180.87 | $204.07 | $209.57 | $183.98 | $184.07 | $194.65 |
60 | $311.23 | $311.25 | $311.18 | $311.17 | $371.38 | $392.44 | $311.23 | $311.30 | $424.15 |
Standard Plus comparisons: Standard alternatives included
These tables show Standard Plus pricing where that category is available. Symetra SwiftTerm, Protective, and Lincoln are shown at Standard, because the quoted products do not have a separate Standard Plus category.
This distinction matters. A higher price in one of those columns does not establish that the company is more expensive for the exact same underwriting class. Its listed classification is different, and an individual applicant’s actual offers may differ from this comparison.
Standard Plus comparison for men: $1 million, 20-year term
Monthly premiums; lowest listed premium in each row is bold.
Age | Pacific Life | Symetra SwiftTerm — Standard* | Protective — Standard* | Banner | Cincinnati Life | Prudential | Lincoln — Standard* | Corebridge | Transamerica |
30 | $50.98 | $57.75 | $57.72 | $50.97 | $51.97 | $65.19 | $63.07 | $50.69 | $51.00 |
35 | $61.62 | $70.49 | $70.46 | $61.61 | $65.49 | $75.69 | $71.98 | $61.68 | $62.05 |
40 | $86.68 | $98.55 | $98.52 | $86.67 | $94.22 | $104.57 | $100.49 | $87.87 | $88.40 |
45 | $135.98 | $155.49 | $155.38 | $135.97 | $141.54 | $150.07 | $155.47 | $135.19 | $136.00 |
50 | $217.49 | $243.89 | $243.86 | $212.33 | $221.81 | $241.07 | $243.87 | $218.00 | $219.30 |
55 | $341.51 | $418.72 | $418.62 | $340.68 | $362.08 | $383.69 | $418.70 | $339.51 | $348.50 |
60 | $598.35 | $702.68 | $702.61 | $598.34 | $639.24 | $686.44 | $702.66 | $594.85 | $646.00 |
Standard rate shown for Symetra SwiftTerm, Protective, and Lincoln. These quoted products do not offer a separate Standard Plus category.
Standard Plus comparison for women: $1 million, 20-year term
Monthly premiums; lowest listed premium in each row is bold.
Age | Pacific Life | Symetra SwiftTerm — Standard* | Protective — Standard* | Banner | Cincinnati Life | Prudential | Lincoln — Standard* | Corebridge | Transamerica |
30 | $41.64 | $46.70 | $46.67 | $41.63 | $42.67 | $52.07 | $50.93 | $41.40 | $41.65 |
35 | $47.98 | $54.35 | $54.32 | $47.97 | $51.12 | $58.19 | $55.53 | $47.71 | $51.00 |
40 | $68.84 | $77.30 | $77.27 | $68.83 | $73.09 | $80.94 | $77.28 | $68.88 | $69.70 |
45 | $103.68 | $120.64 | $120.53 | $103.67 | $106.05 | $115.07 | $120.62 | $103.08 | $103.70 |
50 | $155.53 | $180.14 | $178.05 | $155.52 | $162.66 | $179.82 | $178.07 | $154.63 | $155.55 |
55 | $240.10 | $283.61 | $283.45 | $240.09 | $252.23 | $273.44 | $283.46 | $238.70 | $262.65 |
60 | $388.62 | $471.50 | $471.47 | $388.61 | $434.75 | $500.07 | $471.48 | $386.35 | $447.95 |
Standard rate shown for Symetra SwiftTerm, Protective, and Lincoln. These quoted products do not offer a separate Standard Plus category.
Standard life insurance rates by company
Standard pricing gives readers another useful benchmark beyond the two Preferred categories. If you have received a Standard quote or approval, start with this section when comparing the same coverage amount and term.
In this dataset, Corebridge has the lowest listed Standard male premium at every age shown. For women, Corebridge has the lowest listed Standard premium at six of the seven ages; Banner has the lowest at age 50.
Standard rates for men: $1 million, 20-year term
Monthly premiums; lowest listed premium in each row is bold.
Age | Pacific Life | Symetra SwiftTerm | Protective | Banner | Cincinnati Life | Prudential | Lincoln | Corebridge | Transamerica |
30 | $57.73 | $57.75 | $57.72 | $57.71 | $63.80 | $72.19 | $63.07 | $57.45 | $57.80 |
35 | $70.47 | $70.49 | $70.46 | $70.45 | $77.32 | $91.44 | $71.98 | $70.13 | $70.55 |
40 | $98.53 | $98.55 | $98.52 | $98.51 | $108.58 | $122.94 | $100.49 | $98.01 | $98.60 |
45 | $155.47 | $155.49 | $155.38 | $155.37 | $168.58 | $176.32 | $155.47 | $154.63 | $155.55 |
50 | $243.87 | $243.89 | $243.86 | $243.85 | $267.44 | $289.19 | $243.87 | $242.51 | $243.95 |
55 | $418.70 | $418.72 | $418.62 | $418.61 | $449.96 | $470.32 | $418.70 | $416.31 | $431.80 |
60 | $702.66 | $702.68 | $702.61 | $702.60 | $773.60 | $853.57 | $702.66 | $698.58 | $716.55 |
Standard rates for women: $1 million, 20-year term
Monthly premiums; lowest listed premium in each row is bold.
Age | Pacific Life | Symetra SwiftTerm | Protective | Banner | Cincinnati Life | Prudential | Lincoln | Corebridge | Transamerica |
30 | $46.68 | $46.70 | $46.67 | $46.66 | $50.28 | $59.94 | $50.93 | $46.47 | $46.75 |
35 | $54.33 | $54.35 | $54.32 | $54.31 | $59.57 | $68.69 | $55.53 | $54.07 | $54.40 |
40 | $77.28 | $77.30 | $77.27 | $77.26 | $84.92 | $105.44 | $77.28 | $76.89 | $77.35 |
45 | $120.62 | $120.64 | $120.53 | $120.52 | $128.86 | $166.69 | $120.62 | $119.98 | $120.70 |
50 | $178.06 | $180.14 | $178.05 | $178.04 | $194.77 | $251.57 | $178.07 | $179.13 | $180.20 |
55 | $283.46 | $283.61 | $283.45 | $283.44 | $298.71 | $366.19 | $283.46 | $282.00 | $299.20 |
60 | $471.48 | $471.50 | $471.47 | $471.46 | $522.63 | $598.94 | $471.48 | $468.76 | $524.45 |
How much does the health class change the price?
The next two tables show the lowest quoted monthly premium in each comparison category. They make the effect of classification easier to see without scanning all nine companies. The winning carrier can change between columns.
Lowest listed monthly premiums for men, by comparison category
Age | Preferred Plus | Preferred | Standard Plus | Standard |
30 | $24.06 | $39.71 | $50.69 | $57.45 |
35 | $32.10 | $43.09 | $61.61 | $70.13 |
40 | $48.13 | $61.68 | $86.67 | $98.01 |
45 | $81.76 | $99.01 | $135.19 | $154.63 |
50 | $127.59 | $155.47 | $212.33 | $242.51 |
55 | $214.51 | $249.51 | $339.51 | $416.31 |
60 | $378.66 | $443.25 | $594.85 | $698.58 |
Lowest listed monthly premiums for women, by comparison category
Age | Preferred Plus | Preferred | Standard Plus | Standard |
30 | $22.81 | $30.41 | $41.40 | $46.47 |
35 | $27.88 | $35.48 | $47.71 | $54.07 |
40 | $39.87 | $50.59 | $68.83 | $76.89 |
45 | $63.23 | $74.62 | $103.08 | $119.98 |
50 | $95.35 | $114.71 | $154.63 | $178.04 |
55 | $153.24 | $180.87 | $238.70 | $282.00 |
60 | $263.99 | $311.17 | $386.35 | $468.76 |
Standard Plus summaries use the mixed comparison tables described above, with Standard alternatives included for the three products without a separate Standard Plus class.
For a 50-year-old man, the lowest listed monthly price rises from $127.59 at Preferred Plus to $155.47 at Preferred, $212.33 in the Standard Plus comparison, and $242.51 at Standard. The difference between the Preferred Plus and Standard minimums is $114.92 per month, or $1,379.04 over 12 monthly payments.
For a 50-year-old woman, the corresponding minimums are $95.35, $114.71, $154.63, and $178.04. The Preferred Plus-to-Standard difference is $82.69 per month, or $992.28 over 12 monthly payments.
These comparisons explain why selecting a health class in a quote tool deserves care. A low illustrated premium is useful only if the underlying classification is a realistic possibility for your application. You cannot choose an underwriting class simply because its premium fits your budget.
How much can company pricing differ for the same class?
Some rows are tightly grouped. Others show a meaningful spread between the lowest and highest listed prices. Here are four examples drawn directly from the full tables:
Applicant scenario | Lowest listed monthly rate | Highest listed monthly rate | Monthly difference | Difference over 12 payments |
Male, age 60, Preferred Plus | Banner: $378.66 | Transamerica: $482.80 | $104.14 | $1,249.68 |
Female, age 60, Preferred Plus | Banner: $263.99 | Transamerica: $384.20 | $120.21 | $1,442.52 |
Male, age 60, Standard | Corebridge: $698.58 | Prudential: $853.57 | $154.99 | $1,859.88 |
Female, age 50, Standard | Banner: $178.04 | Prudential: $251.57 | $73.53 | $882.36 |
For a 60-year-old man at Standard, the spread between Corebridge’s $698.58 and Prudential’s $853.57 is $154.99 per month. For a 60-year-old woman at Preferred Plus, the spread between Banner’s $263.99 and Transamerica’s $384.20 is $120.21 per month.
These are comparisons of published illustrations for the stated scenarios, not guaranteed savings for a particular applicant. The “difference over 12 payments” column is calculated from monthly premiums; it is not a quote for an annual-payment billing option.
Why the cheapest listed company may not be your cheapest approved option
A carrier comparison and an underwriting comparison answer different questions. A carrier table asks, “What does each company charge at this class?” An underwriting review asks, “What class might each company offer this applicant?”
Consider a hypothetical applicant who could receive Preferred from one insurer and Standard from another. Comparing only the two companies’ Preferred prices would miss the decision that actually matters. The relevant comparison would be the premiums attached to the offers that applicant can obtain.
This also explains why a carrier that is not cheapest in these tables may still be worth considering. Its suitability depends on the applicant and the policy, not solely on its position in a sample row. Pricing tables do not rank claims service, financial strength, conversion provisions, or living-benefit riders.
LifeStein’s role is to connect pricing with the details behind your application. If you are unsure which class to use, our tentative life insurance offer process explains how preliminary carrier feedback can help guide the search. Tentative feedback is not a final approval or a guaranteed premium.
What if you use nicotine pouches, dip, or cigars?
These general health-class tables do not determine how a particular carrier will classify your nicotine use. The product used, frequency, history, and other underwriting details need to be considered before treating a non-tobacco illustration as an applicable quote.
LifeStein has dedicated resources for nicotine pouch life insurance and Zyn life insurance. Those guides are a better starting point for understanding the questions to address before comparing premiums for nicotine use.
When requesting quotes, describe your actual use rather than choosing a category solely to reproduce a low price from a chart. The goal is a useful comparison that reflects your application.
How to use these tables when shopping for coverage
Start with your age and the health class you have been quoted, or a class LifeStein has helped you evaluate. Compare the same $1 million coverage amount and 20-year duration across companies. If a quote differs substantially from a table entry, check the product, class, state, payment frequency, age basis, and any added riders before drawing a conclusion.
Next, consider the size of the price difference. A few cents per month should not dominate a decision when underwriting requirements or policy provisions differ. A larger spread is a reason to investigate alternatives, while still making sure the coverage fits your needs.
Finally, confirm that $1 million and 20 years are the right comparison for your objective. This article uses a consistent benchmark; it is not a recommendation that every household buy that amount or duration. You can explore other durations in our $1 million term life insurance guide or read about a life insurance ladder strategy if your coverage needs change over time.
Compare your life insurance options with LifeStein
The tables show why shopping is worth doing: company rankings change, health classes change the price, and some quotes are close enough that the details of the policy and application process matter more than a few cents.
You can see live rates and shop on your own, or let LifeStein help you compare coverage. If your health history or nicotine use makes the right class uncertain, start with a tentative offer review.
Frequently asked questions
Which company has the cheapest $1 million, 20-year term life insurance?
The lowest-priced company depends on the age, sex, and comparison category. Among the nine listed carriers, Banner has the lowest Preferred Plus male quote at age 30 at $24.06 per month. Corebridge has the lowest Preferred Plus female quote at age 30 at $22.81 per month. Other ages and classes have different results.
Are these average life insurance rates?
No. The full tables show individual carrier quotes for the stated scenarios. The summary tables show the lowest quoted premium among the nine listed carriers in each scenario. Neither represents an average across insurance companies.
What does $1 million of 20-year term life insurance cost at age 50?
Among the listed carriers, the lowest monthly Preferred Plus premiums at age 50 are $127.59 for men and $95.35 for women. At Standard, the lowest listed monthly premiums are $242.51 for men and $178.04 for women. Actual eligibility and premiums depend on underwriting and the applicable product.
Why do Lincoln, Protective, and Symetra SwiftTerm repeat in the Standard Plus and Standard tables?
The products quoted for Lincoln, Protective, and Symetra SwiftTerm do not offer a separate Standard Plus class. Their Standard rates are included as alternatives in the Standard Plus comparison and are marked with an asterisk. They remain Standard quotes in both tables.
Are the Symetra quotes for SwiftTerm?
Yes. Every Symetra quote in this article is for Symetra SwiftTerm, not a separate traditional Symetra term product. SwiftTerm offers a digital application process with a no-exam path for qualifying applicants; some applications can require further underwriting and an exam.
Can I choose Preferred Plus to get the lowest rate?
You can view a Preferred Plus illustration, but that does not establish eligibility. The insurer determines the underwriting class based on the application and required information. Use a realistic class when comparing premiums, and ask LifeStein for help when you are uncertain.
Are these monthly or annual premiums?
Every price in the rate tables is a monthly premium. Annual differences discussed in the article are calculated as the monthly difference multiplied by 12; they are not separate annual-payment quotes.
Does the lowest listed premium guarantee the best policy for me?
No. The lowest premium is one part of a comparison. Your approved classification, policy provisions, application requirements, and coverage needs also matter. These tables compare prices and do not rank every aspect of the insurers or policies.
Can nicotine users assume these non-tobacco quotes apply to them?
No. A particular nicotine-use history must be reviewed against the relevant carrier and product requirements. Tell LifeStein what you use and your use history so the comparison can reflect your circumstances.
How can I get a personalized life insurance quote?
Use LifeStein’s live quote tool or request help comparing coverage. For a health history or nicotine-use situation that needs additional review, LifeStein’s tentative-offer process can help seek preliminary underwriting feedback before a final offer is available.
Rate methodology and sources
Pricing source: CompuLife life insurance quotation software, using the carrier-rate dataset supplied by LifeStein for this comparison. All 504 supplied entries are included. The tables compare nine named carrier/product options at seven ages, for men and women, using $1 million of coverage and a 20-year term. Standard alternatives are included in the Standard Plus comparisons as explicitly noted.
The lowest-price summaries are calculated from the nine listed quotes in each row. They do not establish the lowest price across every company, product, or state in the market. These are illustrated premiums, not approved offers. Final pricing and availability depend on underwriting, state, product eligibility, age calculation, payment mode, and other applicable requirements. Rates can change.
Product-process reference: Symetra SwiftTerm client guide, issued by Symetra Life Insurance Company, describes the digital application and potential underwriting paths. Current requirements should be confirmed for the application being submitted.
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