Term Life Insurance Rates by Age 2027: How Much Will You Pay?

Term life insurance rates by age can change dramatically as you get older, but age is only one part of the price. Your term length, coverage amount, health, tobacco or nicotine use, build, medications, family history, driving record, and the insurance company all matter.

The best way to use a rate chart is as a planning tool—not as a guaranteed quote. I want you to see what coverage may cost at your age, understand why the numbers change, and then compare carriers before you submit a formal application.

Term Life Insurance Rates by Age Chart for 2027 Planning

The table below uses the 20-year, $500,000 sample-rate data already maintained in PinnacleQuote’s rate dataset. It is designed to show the cost curve by age, not to promise a rate. These figures assume a favorable non-tobacco underwriting profile and should be treated as illustrative until a carrier reviews your application.

Methodology: monthly illustrations from the PinnacleQuote term-rate dataset embedded in this page, reviewed October 25, 2026 for 2027 planning. These are not guaranteed quotes, are not tied here to one specific carrier, and may differ by state, underwriting class, health, tobacco status, payment mode, and product availability.

Interactive Term Life Insurance Rate Tool

This tool uses the same illustrative rate dataset as the tables above. Choose sex, term length, age, and coverage amount to see the sample monthly premium. If a combination shows unavailable, the dataset does not contain that age-and-term combination.

How Term Life Insurance Rates Change by Decade

Age matters because the insurer is pricing the chance that a death claim will occur during the term. But there is no honest universal rule such as “rates always rise 10% every year.” Carrier pricing is not that smooth. It changes by age, product, term length, coverage band, underwriting class, and company.

Term Life Insurance Rates at Age 30

At age 30, the sample 20-year $500,000 premium is $16.53 for a woman and $19.31 for a man. A 30-year term costs more because the insurer is guaranteeing the level premium for an additional decade.

Term Life Insurance Rates at Age 40

At age 40, the same 20-year $500,000 sample is $24.48 for a woman and $27.76 for a man. This is also an age where choosing the right term matters: a 10-year policy may be cheap now but could leave you shopping again at age 50.

Term Life Insurance Rates at Age 50

At age 50, the sample increases to $54.39 for a woman and $66.36 for a man. Health-class differences can become more important at this stage, so comparing carriers before applying can matter as much as comparing the advertised rate.

Term Life Insurance Rates at Age 60

At age 60, the sample 20-year $500,000 premium is $137.57 for a woman and $183.86 for a man. Some carriers may restrict longer terms at older ages, which is why a live comparison is more useful than a generic chart.

Term Life Insurance Rates at Age 70

At age 70, a 20-year term is not universally available across carriers. The PinnacleQuote dataset contains a 20-year $500,000 illustration of $629.41 for a woman and $799.93 for a man, but actual availability at this age is highly carrier- and state-specific.

10-Year vs. 20-Year vs. 30-Year Term Life Insurance Rates

Longer terms generally cost more because the carrier guarantees your rate for a longer period. The cheapest term today is not automatically the best value if it expires while you still need the protection.

$500,000 Sample Rates for Women

$500,000 Sample Rates for Men

Illustrative monthly premiums from the same PinnacleQuote page dataset; see methodology above. Thirty-year availability narrows at older ages.

If you specifically want a shorter duration, see our 10-year term life insurance guide. For longer protection, compare our 30-year term life insurance guide.

What Factors Change Term Life Insurance Rates Besides Age?

Your birthday is easy to see on a chart, but underwriting is where the final premium is determined. The insurer evaluates your individual risk and can approve you at a different rate class than the one used in a sample table.

If your health is complicated, a broad rate chart is less useful than carrier-specific underwriting. Start with our high-risk life insurance guide or our life insurance with diabetes guide.

What Is the Maximum Age for Term Life Insurance?

There is no single maximum age for term life insurance. Eligibility depends on the carrier and the length of the term. Longer terms usually have younger maximum issue ages because the carrier would otherwise be guaranteeing the rate much further into later life.

For example, Banner Life currently states that its 10-year term can be issued through age 75, while its 20-year term generally has a lower maximum issue age and its 30-year term lower still. Protective currently advertises term issue ages from 18 to 75, with multiple term lengths, but specific term availability still depends on the product rules.

For older-age planning, see our senior term life insurance rates by age.

How Much Term Life Insurance Should You Buy at Your Age?

Age should influence the term length, but it should not decide the death benefit by itself. Coverage should be tied to the financial loss your family, business, or estate would face if you died during the term.

For larger income-replacement needs, see our $1 million term life insurance guide.

What Happens to Your Rate When the Level Term Ends?

Most level term policies keep the scheduled premium level for the initial term. If the policy is renewable afterward, the renewal premium can increase substantially because it is based on older ages and the contract’s renewal schedule. The NAIC specifically advises consumers to ask what renewal premiums will be and whether the right to renew ends at a certain age.

That is why I would not automatically choose a 10-year policy just because it has the lowest premium today. If you reasonably expect to need coverage for 20 or 30 years, compare the total strategy rather than only the first month’s price.

Term Life Insurance vs. Whole Life Rates by Age

Term life is designed to provide a larger amount of death-benefit protection for a defined period and generally has lower initial premiums than permanent cash-value insurance. Whole life is designed for lifetime coverage and includes cash value, so the cost per dollar of death benefit is usually much higher.

If your need is permanent rather than temporary, compare our whole life insurance guide and universal life insurance guide rather than forcing a term policy to solve a lifetime need.

People Also Ask About Term Life Insurance Rates by Age

Is term life insurance cheaper when you are younger?

Usually, yes. Younger applicants generally have lower mortality risk during the term, so the same coverage and term length usually costs less. Health still matters, however, and a younger applicant with significant medical or lifestyle risks can pay more than an older applicant who qualifies for a better underwriting class.

How much is a $500,000 term life policy at age 30?

In PinnacleQuote’s current illustrative dataset, a healthy 30-year-old woman is about $16.53 per month and a man about $19.31 for a 20-year, $500,000 term. Your actual premium may be higher or lower after carrier underwriting.

How much is a $500,000 term life policy at age 40?

The same dataset shows about $24.48 per month for a healthy 40-year-old woman and $27.76 for a man on a 20-year, $500,000 term. Tobacco use, medications, build, health history, and the carrier can materially change the final rate.

Can you get 30-year term life insurance after age 50?

Sometimes, but availability narrows quickly. Carrier rules differ. Some companies allow a 30-year term into the early or mid-50s for certain non-tobacco applicants, while others have lower maximum issue ages. A live carrier comparison is necessary.

Do term life insurance rates stay the same?

During a level-premium term, the scheduled premium generally stays level for the guaranteed term period. If you keep renewable coverage after that period, premiums may increase sharply. Always review the policy’s guaranteed premium schedule and renewal provisions before buying.

Are no-exam term rates more expensive?

Not automatically. Many carriers use accelerated underwriting and can issue competitively priced coverage without a traditional paramed exam for eligible applicants. Whether you qualify depends on age, coverage amount, health history, prescription data, and the carrier’s underwriting rules.

Term Life Insurance Rates by Age FAQ

Bottom Line: How to Use a Term Life Insurance Rates by Age Chart

Use the chart to set expectations, not to make the final decision. Start with your age, term length, and coverage amount. Then look at the health and underwriting factors that determine which carrier is most likely to give you the best class.

The right policy is not simply the cheapest number on a chart. It is the policy that gives your family enough protection for the right number of years at a premium you can comfortably keep.