Term life insurance rate calculator

A healthy 40-year-old typically pays roughly $30–$60 a month for a $500,000, 20-year term life policy, with rates climbing after age 50 and roughly tripling for tobacco users. This calculator estimates your monthly premium from published average rates.

Estimated premium

$59.00/mo

Annual$708.00

Coverage$500,000

Term20 years

Tobacco useNo

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How this estimate is calculated

We start from published 2026 average monthly rates for a $500,000, 20-year term policy by age, gender and tobacco use, then scale for your chosen coverage amount and term length using published factors. Ages outside the 25–60 rate table use the nearest available age. Real rates depend on health, family history and underwriting.

See our full methodology for assumptions, limits and the 2026 data used.

Sources

Written by: Colson — Founder & insurance-data researcher, ColsonSuperApps LLC
Reviewed: Figures checked against the cited sources
Last updated: June 13, 2026
Standards: Editorial policy

This is an estimate based on published average-rate data for informational purposes only — not a quote, and not insurance, legal or financial advice. Your actual price depends on the carrier and underwriting. Get a real quote for exact pricing.