How to Get Affordable Life Insurance Term Rates

Shawn Plummer

CEO, The Annuity Expert

If you are looking for affordable life insurance term rates, you have come to the right place. In this guide, we will discuss how to get the best rates on your policy. We will also talk about the different types of life insurance policies available, and which one might be best for you. So, whether you are just starting out in life or are nearing retirement, read on for tips on getting the coverage you need at a price you can afford!

Life Insurance Term Rates By Age

Premiums for life insurance are based on age. Because your life expectancy decreases with age, rates go up as you get older.

AgeAverage monthly rate (non-smoker)Average monthly rate (smoker)

Life Insurance Term Rates By Gender

Life insurance rates vary based on gender, as well. Men pay more for term life insurance than women on average.

This is due to the fact that men have a shorter life expectancy than women. Life insurers take this aspect into account, and men pay higher premiums than a woman who is the same age.


Life Insurance Term Rates By Policy Length

The lower the term length of a life insurance policy, the less you will pay in annual life insurance premiums.

After you have completed a medical examination, the life insurance company gives you a health rating. The rating you receive right now affects the price of your life insurance policy. These factors are determined by each individual life insurance provider, but they differ only slightly across the sector. Your ranking classification is impacted by things like blood pressure, smoking, and cholesterol levels.

10-year term life insurance rates

10-year policies because they offer some of the cheapest rates available.

Policy face valuePreferred plusPreferredStandard

20-year term life insurance rates

The most common term life insurance policy on the market, the 20-year term plan, extends coverage further than its shorter 10-year counterpart, but it costs more each year.

These rules are typically suggested for young families who frequently have significant debt and expenses, such as mortgages and education loans, that would be more difficult to manage if one parent’s wage was missed.

The average 20-year term is adequate time for the family to pay down their debts and decrease the chances that someone else will have to foot the bill in case of an emergency.

Policy face valuePreferred plusPreferredStandard

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Find The Best Life Insurance Term Rates

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Frequently Asked Questions

Where do I find the best rates on term life insurance?

There are a few ways to find the best rates on term life insurance. Many people start by looking online for quotes from different insurance companies. Another option is to contact a local independent insurance agent, who can provide quotes from multiple companies.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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