How Much Does a $1,000,000 Term Life Insurance Policy Cost?

What the Price Looks Like

A $1,000,000 term life insurance policy typically costs between $25 and $75 per month for a healthy 30‑year‑old male, and slightly higher for a female or someone with health risks. Premiums rise with age, gender, health status, and term length.

Key Influencing Factors

• Age – Younger applicants pay lower rates; a 50‑year‑old may see $150–$250 monthly.
• Gender – Men generally pay 10–15% less than women for the same coverage.
• Health – Smoking, high blood pressure, or a history of heart disease increases costs by 20–50%.
• Term Length – 10‑year terms are cheaper than 20‑ or 30‑year terms; the longer the term, the higher the premium.
• Coverage Amount – $1,000,000 is a common benchmark; higher sums add proportionally to the monthly cost.

How to Get an Accurate Quote

Start with a free online calculator using your personal details. Then contact multiple insurers to compare written quotes. Look for insurers that offer rate locks or discounts for bundling policies.

Typical Premium Ranges by Age Group

Final Thoughts

While the cost varies, a healthy 30‑year‑old can expect a $1,000,000 term policy to cost roughly $30–$45 per month. Use reputable insurers and consider term length and health profile to find the best rate for your situation.