Guide
What term life actually costs, by age
Why we do not publish a rate table
Almost every term life site shows a grid of monthly premiums by age. Those numbers come from the healthiest underwriting class — usually "preferred plus," which a minority of applicants actually receive — for a specific state, sex, term length, and coverage amount. Change any one of those and the number moves, sometimes by half.
Publishing a single figure as though it were your rate is the most common way these sites mislead people. We would rather explain what moves the price so you can read a real quote intelligently.
What actually determines your premium
Age is the largest single factor and it compounds. Life insurance prices mortality risk, and mortality risk accelerates. The gap between buying at 30 and buying at 35 is smaller than the gap between 45 and 50, which is smaller again than 55 to 60. Every year you wait costs more than the year before.
Health class matters nearly as much. Insurers sort applicants into tiers — preferred plus, preferred, standard plus, standard, and substandard ratings below that. Blood pressure, cholesterol, build, family history, and prescription history all feed the decision. Two 40-year-olds can be quoted rates that differ by more than double.
Tobacco use is its own category and the penalty is severe, often two to three times the non-smoker rate. Most insurers require 12 months smoke-free to requote, some require longer.
Term length and coverage amount scale the price directly. A 30-year term costs meaningfully more than a 20-year term for the same benefit, because the insurer is carrying you into higher-mortality years.
Sex affects pricing because women have longer average life expectancy, so female applicants generally pay less than male applicants of the same age and health.
State matters at the margin. Insurers file rates state by state, and product availability differs.
How to read a quote you are given
When a carrier shows you a price before underwriting, that is an estimate assuming you qualify for the class the questionnaire implies. The binding number arrives after underwriting. Treat the pre-underwriting figure as a starting point, not a promise.
If your final offer comes back worse than the estimate, that is not necessarily a reason to accept it. Underwriting varies between insurers — the same file can be classed differently in different places. Getting a second opinion through a marketplace is usually worth the extra week.
The one generalisation worth making
Term life is dramatically cheaper than most people assume, and dramatically cheaper at 30 than at 50. If you are young, healthy, and have someone financially dependent on you, the cost of getting a real quote is fifteen minutes.
Reviewed July 2026. This is general information, not insurance advice.