Term life insurance provides protection for a set period, making it a straightforward option for families, homeowners and anyone who wants coverage during important financial years.
Term life insurance provides life insurance coverage for a specific number of years, such as 10, 20 or 30 years.
If the insured person dies while the policy is active, the beneficiaries generally receive the policy’s death benefit. Unlike permanent life insurance, term coverage usually does not build cash value.
Because coverage is temporary, term life insurance is often one of the more affordable ways to purchase a larger amount of life insurance protection.
Why Choose Term Life Insurance?
Lower Initial Cost
Term life insurance can provide substantial coverage at a lower initial premium than many permanent policies.
Flexible Coverage Periods
Choose a term that matches the years when your family or finances may need the most protection.
Family Protection
Coverage can help replace income, pay debts and provide financial support for loved ones.
Explore Term Life Insurance Options
10-Year Term
Shorter-term coverage that may work well for temporary financial obligations or people approaching retirement.
Term life insurance rates vary based on age, health, smoking status, coverage amount, term length and insurer underwriting. The table below can be used to compare sample monthly premiums by age and term.
Rates updated: July 31, 2026
Age
Sex
Coverage
10-Year Term
20-Year Term
30-Year Term
30
Male
$250,000
$17.01/mo
$21.81/mo
$33.93/mo
30
Female
$250,000
$14.77/mo
$18.10/mo
$26.77/mo
30
Male
$500,000
$26.33/mo
$35.02/mo
$60.73/mo
30
Female
$500,000
$22.54/mo
$29.86/mo
$46.83/mo
40
Male
$250,000
$21.78/mo
$31.50/mo
$52.23/mo
40
Female
$250,000
$19.16/mo
$25.25/mo
$41.14/mo
40
Male
$500,000
$35.69/mo
$55.49/mo
$94.73/mo
40
Female
$500,000
$30.37/mo
$43.07/mo
$72.63/mo
50
Male
$250,000
$48.16/mo
$69.39/mo
$127.91/mo
50
Female
$250,000
$36.38/mo
$53.17/mo
$91.16/mo
50
Male
$500,000
$81.91/mo
$132.29/mo
$241.36/mo
50
Female
$500,000
$62.88/mo
$98.11/mo
$172.50/mo
60
Male
$250,000
$120.18/mo
$188.11/mo
$n/a
60
Female
$250,000
$73.90/mo
$135.65/mo
$n/a
60
Male
$500,000
$194.79/mo
$369.73/mo
$n/a
60
Female
$500,000
$130.11/mo
$260.17/mo
$n/a
Disclaimer: Rates shown are sample monthly premiums for general comparison purposes only. Actual premiums vary by age, sex where permitted, health, smoking status, coverage amount, term length, state, insurer and underwriting classification.
What Affects the Cost of Term Life Insurance?
Age
Life insurance generally costs less when purchased at younger ages.
Health
Medical history and current health can influence underwriting and premiums.
Smoking
Tobacco use can significantly increase life insurance costs.
coverage Amount
Larger death benefits generally result in higher premiums.
Term Length
Longer coverage periods usually cost more than shorter terms.
Underwriting
Each insurer uses its own underwriting guidelines when determining eligibility and pricing.
Who May Consider Term Life Insurance?
Term life insurance may be worth considering if you want coverage for a specific period or financial responsibility.
Common Reasons
Replacing income for a spouse or family
Protecting children while they are financially dependent
Helping cover a mortgage
Paying outstanding debts
Funding education expenses
Protecting business obligations
Supplementing existing employer life insurance
Benefits and Things to Consider
Benefits
Generally lower initial premiums
Simple coverage structure
Multiple term lengths available
Ability to purchase substantial coverage
Useful for temporary financial needs
Things to Consider
Coverage eventually expires
Renewal premiums may increase
Most term policies do not build cash value
Coverage becomes more expensive as you age
Conversion and renewal options vary by policy
Term Life vs. Permanent Life Insurance
Term Life
Provides coverage for a selected period and is generally designed primarily for death-benefit protection.
