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Term life insurance is a popular choice for those looking to save money upfront. Rather than paying more for a whole life insurance policy, term life insurance policies offer ample coverage with rates that fit most budgets. There are typically a few key factors that are considered when determining premium costs, including age. In addition to age, medical history, gender, coverage goals, and harmful habits can also influence term life insurance rates. Let’s dive deeper into what term life insurance is, how it works, and the average term life insurance rates by age.
Term life insurance is a temporary policy that will provide your beneficiaries with a death benefit payout if you pass away before the policy expires. Term life insurance policies typically range from 10 to 30 years and come with lower premiums than permanent policies.
When you choose to get life insurance, timing is everything. Term life insurance rates will vary depending on the term and the amount of face-value coverage that is selected.
The table below reflects sample term life monthly insurance rates, by age, at different face-value amounts. These are the average rates for 10-year term life insurance policies for healthy, but average individuals who do not use tobacco products.1
| Gender | Age | $125,000 | $250,000 |
|---|---|---|---|
| Male | 20 | $22.50 | $40.00 |
| Female | 20 | $21.25 | $37.50 |
| Male | 25 | $22.50 | $40.00 |
| Female | 25 | $21.25 | $37.50 |
| Male | 30 | $22.50 | $40.00 |
| Female | 30 | $21.25 | $37.50 |
| Male | 35 | $22.50 | $40.00 |
| Female | 35 | $21.25 | $37.50 |
| Male | 40 | $37.50 | $70.00 |
| Female | 40 | $28.75 | $52.50 |
| Male | 45 | $55.00 | $105.00 |
| Female | 45 | $43.75 | $82.50 |
| Male | 50 | $80.00 | $155.00 |
| Female | 50 | $68.75 | $132.50 |
| Male | 55 | $118.75 | $232.50 |
| Female | 55 | $90.00 | $175.00 |
| Male | 60 | $175.00 | $345.00 |
| Female | 60 | $140.00 | $275.00 |
| Male | 65 | $225.00 | $445.00 |
| Female | 65 | $222.50 | $440.00 |
| Male | 70 | $402.50 | $800.00 |
| Female | 70 | $345.00 | $685.00 |
Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.
Several factors can affect the term life insurance rates you’ll pay, including:
Finding the best term life insurances rates is possible once you determine how much coverage you need and what your budget is. For example, term life insurance rates for seniors may look very different than they do for younger people. Usually, the older you get, the higher the life insurance premium payments are.2
There are additional options when seeking life insurance for seniors. Besides term life insurance, seniors can explore whole life insurance plans if they are looking for coverage that lasts their entire life, regardless of when they pass (subject to limitations and exclusions).
It can be a wise choice to compare term life insurance rates to find the best option for you.
Although term life insurance rates can vary depending on many factors, premiums are typically reasonable. At Aflac, our term life insurance prices vary depending on your coverage goals and the life you lead. Our premiums are guaranteed throughout the term you choose, so you’ll know what rates to expect every month and year. Chat with an Aflac agent today to discover term life insurance options that are available to you.
1 Rates are based on the average monthly premium for Georgia Direct Premium rates industry Class A; Aflac Term Life Insurance TERM LIFE POLICY - Series B60000; Premiums may vary by coverage type, account, state of issue, and the election of additional/optional benefits.
2 Investopedia. Best Life Insurance for Seniors. Updated February 03, 2024. Accessed February 15, 2024. https://www.investopedia.com/best-life-insurance-for-seniors-4845439.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York. 68000 series: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC1368100, ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68100-A68400. 65000 series: In Virginia, Policies ICC0965JTO & ICC0965JWO. B61000 series: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC18B61JWO & ICC18B61JTO. In Delaware, Policies B61JWO, B61JTO. B60000 series: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Q60000 series/Whole: In Arkansas & Delaware, Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. Not available in Virginia. Q60000 series/Term: In Delaware, Policies Q60200CM. In Arkansas, Idaho, Oklahoma, Policies ICC18Q60200C, ICC18Q60300C, ICC18Q60400C. Not available in Virginia.
Final Expense insurance coverage is underwritten by Tier One Insurance Company. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (Tier One NAIC 92908). In AR, AZ, ID, OK, OR, PA, TX and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22.
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY or VA. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations, and exclusions.
Aflac WWHQ | Tier One Insurance | 1932 Wynnton Road | Columbus, GA 31999
Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
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