How Much Does A $150k Life Insurance Policy Cost 2024?

150000 term, no exam and whole life insurance policy

Brian McHale last updated on April 6, 2024

A $150k ($150,000) life insurance policy is popular amount of coverage in the United States today. Life insurance proceeds are income tax free, therefore a $150,000 policy is the ideal amount of coverage for many are looking for to replace their income or cover outstanding debts such as a mortgage in the event of a premature death.

$150k life insurance is ideal for:

Mortgage protection
Income protection
Final expenses
Pay off outstanding debts
Pay off education loans
Estate Planning
Peace of mind

Below are the best $150k term life insurance rates for a 10, 15, 20, 25 and 30 year level (fixed) term for the four main health classification classes, Preferred Plus, Preferred, Standard Plus and Standard.

Sample Rates for $150k 10-Year Term

Below are the sample monthly rates for a $150,000 10-year level term life insurance policy for the four main health classes.

Age	Preferred Plus	Preferred	Standard Plus	Standard
25	$9	$10	$11	$12
30	$9	$10	$11	$12
35	$9	$10	$13	$13
40	$10	$11	$16	$16
45	$12	$16	$20	$22
50	$17	$22	$28	$33
55	$28	$35	$40	$46
60	$42	$50	$71	$72
65	$75	$90	$120	$126
70	$125	$150	$201	$217
75	$220	$267	$357	$392

_{$150k 10 Year Term Rate Chart by Age and Health Class}

Sample Rates for $150k 15-Year Term

Below are the sample monthly rates for a $150,000 15-year level term life insurance policy for the four main health classes.

Age	Preferred Plus	Preferred	Standard Plus	Standard
25	$9	$10	$13	$14
30	$9	$10	$14	$14
35	$9	$11	$14	$15
40	$11	$13	$19	$19
45	$15	$17	$25	$27
50	$23	$27	$36	$38
55	$33	$42	$55	$61
60	$53	$67	$86	$100
65	$97	$116	$148	$168
70	$175	$214	$272	$306
75	$407	$467	$532	$584

_{$150k 15 Year Term Rate Chart by Age and Health Class}

Sample Rates for $150k 20-Year Term

Below are the sample monthly rates for a $150,000 20-year level term life insurance policy for the four main health classes.

Age	Preferred Plus	Preferred	Standard Plus	Standard
25	$10	$11	$14	$14
30	$10	$11	$16	$16
35	$10	$11	$17	$17
40	$12	$15	$22	$22
45	$19	$22	$33	$33
50	$28	$33	$48	$49
55	$46	$55	$70	$78
60	$74	$90	$116	$131
65	$141	$163	$208	$234
70	$298	$334	$347	$453
75	N/A	N/A	N/A	N/A

_{$150k 20 Year Term Rate Chart by Age and Health Class}

Sample Rates for $150k 25-Year Term

Below are the sample monthly rates for a $150,000 25-year level term life insurance policy for the four main health classes.

Age	Preferred Plus	Preferred	Standard Plus	Standard
25	$13	$16	$17	$18
30	$13	$16	$17	$18
35	$14	$17	$21	$22
40	$19	$22	$30	$32
45	$27	$33	$43	$48
50	$46	$50	$63	$71
55	$77	$86	$108	$110
60	$138	$154	$171	$176
65	$230	$245	$272	$272
70	N/A	N/A	N/A	N/A
75	N/A	N/A	N/A	N/A

_{$150k 25 Year Term Rate Chart by Age and Health Class}

Sample Rates for $150k 30-Year Term

Below are the sample monthly rates for a $150,000 30-year level term life insurance policy for the four main health classes.

Age	Preferred Plus	Preferred	Standard Plus	Standard
25	$14	$15	$19	$23
30	$14	$17	$20	$24
35	$16	$19	$24	$27
40	$22	$26	$34	$38
45	$31	$40	$48	$56
50	$50	$60	$74	$88
55	$97	$112	$114	$122
60	N/A	N/A	N/A	N/A
65	N/A	N/A	N/A	N/A
70	N/A	N/A	N/A	N/A
75	N/A	N/A	N/A	N/A
80	N/A	N/A	N/A	N/A

_{$150k 10 Year Term Rate Chart by Age and Health Class}

Sample Rates for $150k 10-Year Term No Medical Exam

Below are the sample monthly rates for a no medical exam $150,000 10-year level term life insurance policy for the four main health classes.

Age	Preferred Plus	Preferred	Standard Plus	Standard
25	$10	$12	$14	$17
30	$10	$12	$14	$17
35	$10	$12	$14	$17
40	$11	$16	$16	$21
45	$15	$17	$21	$24
50	$21	$25	$33	$35
55	$28	$35	$47	$49
60	$46	$57	$73	$80
65	$76	$91	$125	$127
70	$126	$151	$208	$222
75	N/A	N/A	N/A	N/A

_{$150k 10 Year Term No Medical Exam Rate Chart by Age and Health Class}

Life Insurance Rates & Companies Spreadsheet

Let’s take a look at a $150k 20-year term life insurance policy spreadsheet for a 50-year old male at the preferred plus health class. The image below shows the six best priced term life insurance companies in the country, policy name from each company, health class, as well as shows the monthly premium and total accumulated premium cost for the full 20 years.

$150k 20 year term life insurance rate chart with the top 6 companies 2024. Rates by company, year, product name, accumulated cost and health class 2024

Actual rates for 4/6/2024 for a $150,000 20-year Term Life Insurance Policy

Date of Birth – 03/01/1974 – Age 50, Male, California 20 Years – $150,000

Carrier / Product AM Best Rating Health Class
Banner Life OPTerm A+ Rated Preferred Plus Non-Tobacco $28.10 month

SBLI (Savings Bank Mutual Life Insurance Co of Mass)
Level Term A Rated Preferred Plus Non-Nicotine $28.83 month

Protective Life
Protective Classic Choice Term A+ Select Preferred $29.18 month

Pacific Life Insurance Company
Promise Term A+ Preferred Best No Nicotine Use $29.51 month

Symetra Life Insurance Company
SwiftTerm Instant Issue Available A Super Preferred Non-Nicotine $29.88 month

Cincinnati Life Insurance Company
Termsetter A+ Preferred Plus $30.17 month

Corebridge Financial (American General – all states except
NY) Select-a-Term A Rated Preferred Plus Non-Tobacco $30.71 month

Minnesota Life
Advantage Elite Select Term A+ Rated Preferred Select Non-Tobacco $31.06 month

Transamerica Life Insurance Co.
Trendsetter Super A Rated Preferred Plus Non-Smoker $31.37 month

Lincoln National Life Insurance Company
TermAccel A Rated Preferred Plus NonTobacco $31.50 month

Nationwide
Nationwide Guaranteed Level Term A+ Rated Preferred Plus Non-Tobacco $32.29 month

North American Company for Life and Health Insurance
ADDvantage Term Gen 9 A+ Rated Super Preferred $32.38 month

MassMutual
MassMutual Term A++ Rated Ultra-Preferred Non-Tobacco $34.58 month

Sample Rates for $150k Whole Life Insurance

Below are the sample monthly rates for a $150,000 whole life insurance policy for the four main health classes.

Age	Preferred Plus	Preferred	Standard Plus	Standard
25	$60	$62	$65	$68
30	$68	$69	$75	$79
35	$80	$85	$89	$95
40	$98	$103	$110	$118
45	$119	$126	$135	$146
50	$150	$157	$172	$184
55	$188	$198	$217	$231
60	$244	$258	$283	$302
65	$330	$350	$386	$414
70	$451	$479	$525	$559
75	$585	$663	$726	$769

_{$150k Whole Life Insurance (Permanent Life Insurance) Rate Chart by Age and Health Class}

The rates in the tables above are from some of the nation’s top life insurance companies: Pacific Life, Protective Life, Banner Life, Transamerica and SBLI. To see how much a $150k term life insurance policy, no medical exam or whole life insurance (permanent life insurance) will cost you please use our instant quote engine.

4 Tips to Save on Life Insurance for 2024 for A $150k Term Policy Infographic

Bottom Line

The best rates for a $150k life insurance policy are very affordable if you select the right carrier for your age and health. Each life insurance company in the United States has their own underwriting guidelines and rates so it’s important to compare rates from several top insurers to make sure you are receiving the best deal. This will allow you to stretch your life insurance dollar to get the most coverage at the best price.

FAQ

How Much Does $150k Term Life Insurance Cost?

Rates range from $9 month to $554 month, depending on age, term and health class.

Do The Rates Increase Every 5 Years?

No, you can lock in a rate for 10, 15, 20, 25 or 30 years depending on your age so the rates won’t increase every five years as you get older.

Is There A Waiting Period for $150k of Life Insurance?

No, coverage begins from day one for natural causes and accidents without a waiting period.

What Are The Payment Options for A $150,000 Life Insurance Policy?

The payment options include monthly, quarterly, semi-annually or annually.

Is There A Penalty To Cancel A $150,000 Life Insurance Policy Early?

No, you can cancel the policy at anytime without a penalty.

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