How Much Does $200k Term Life Insurance Cost 2024?
last updated on April 7, 2024Are you looking for the cost for a $200k term life insurance policy?
If so, you’re in the right place.
Below we’ll go over the sample rates for a $200,000 term life insurance policy by age to show what is available today on the open market. These rates are pulled from several of the nation’s top companies such as: Pacific Life, AIG, Banner Life, Protecive Life, SBLI and Transamerica.
Let’s get stated!
Table of contents
- Sample Rates for $200k 10-Year Term
- Sample Rates for $200k 15-Year Term
- Sample Rates for $200k 20-Year Term
- Sample Rates for $200k 25-Year Term
- Sample Rates for $200k 30-Year Term
- Sample Rates for $200k 35-Year Term
- Sample Rates for $200k 40-Year Term
- Life Insurance Rates for 4/7/2024
- How Much Does A $200k Term Life Insurance Policy Cost?
- Bottom Line
- FAQ
Sample Rates for $200k 10-Year Term
Below are the sample monthly rates for a $200k 10-year level term life insurance policy at the best health class, Preferred Plus and the average health class Standard.
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $9.56 | $17.86 |
| 30 | $9.56 | $15.30 |
| 40 | $11.44 | $20.16 |
| 50 | $21.44 | $42.32 |
| 60 | $53.88 | $94.26 |
| 70 | $163.84 | $286.62 |
Sample Rates for $200k 15-Year Term
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $9.56 | $15.30 |
| 30 | $9.56 | $17.19 |
| 40 | $12.40 | $23.70 |
| 50 | $27.86 | $48.62 |
| 60 | $69.22 | $128.86 |
| 70 | $231.82 | $404.72 |
Sample Rates for $200k 20-Year Term
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $10.92 | $18.61 |
| 30 | $10.96 | $19.75 |
| 40 | $13.36 | $27.40 |
| 50 | $34.98 | $63.38 |
| 60 | $96.84 | $171.00 |
| 70 | $395.52 | $601.38 |
Sample Rates for $200k 25-Year Term
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $15.66 | $21.30 |
| 30 | $16.34 | $22.61 |
| 40 | $24.28 | $40.42 |
| 50 | $52.87 | $92.08 |
| 60 | $181.42 | $231.66 |
| 70 | NA | NA |
Sample Rates for $200k 30-Year Term
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $15.92 | $28.72 |
| 30 | $16.72 | $30.32 |
| 40 | $26.60 | $48.90 |
| 50 | $64.00 | $114.66 |
| 60 | NA | NA |
| 70 | NA | NA |
Sample Rates for $200k 35-Year Term
| Age | Preferred Plus | Standard |
|---|---|---|
| 30 | $22.02 | $39.62 |
| 40 | $36.60 | $68.94 |
| 50 | $91.46 | $179.40 |
| 60 | NA | NA |
| 70 | NA | NA |
| 80 | NA | NA |
Sample Rates for $200k 40-Year Term
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $25.56 | $43.98 |
| 30 | $29.96 | $48.56 |
| 40 | NA | NA |
| 50 | NA | NA |
| 60 | NA | NA |
| 70 | NA | NA |
*Rates for the tables above are for a male with date of birth 8/1.
Life Insurance Rates for 4/7/2024
Client: Jane Smith 03/01/1974 – Age 50, Female, Florida
20 Years – $200,000
Company Policy Name AM Best Rating Health Class Monthly Premium
1. Banner Life
OPTerm A+ Preferred Plus Non-Tobacco $27.66 month
2. Protective Life
Protective Classic Choice Term A+ Select Preferred $27.82 month
3.Cincinnati Life Insurance Company
Termsetter A+ Preferred Plus $29.15 month
4. SBLI (Savings Bank Mutual Life Insurance Co of Mass)
Level Term A Preferred Plus Non-Nicotine $29.40 month
5.Corebridge Financial (American General – all states except
NY) Select-a-Term A Preferred Plus Non-Tobacco $29.64 month
6. Symetra Life Insurance Company
SwiftTerm A Super Preferred Non-Nicotine $30.00 month
7. Minnesota Life
Advantage Elite Select Term A+ Preferred Select Non-Tobacco $30.23 month
8. Pacic Life Insurance Company – Lynchburg
Promise Term A+ Preferred Best No Nicotine Use $30.38 month
9. Lincoln National Life Insurance Company
TermAccel 2019 A Preferred Plus NonTobacco $30.44 month
10. North American Company for Life and Health Insurance®
ADDvantage Term Gen 9 A+ Super Preferred $32.47 month
11. MassMutual
MassMutual Term A++ Ultra-Preferred Non-Tobacco $32.80 month
12. Transamerica Life Insurance Co.
Trendsetter Super A Preferred Plus Non-Smoker $32.98 month
13. Columbus Life Insurance Company
Nautical Term A+ Preferred Plus NonTobacco $35.36 month
14. Prudential Financial
Term Essential A+ Preferred Best $36.67 month
15. Nationwide
Nationwide Guaranteed Level Term A+ Preferred Plus Non-Tobacco $38.06 month
16. Protective Life
Protective Custom Choice UL A+ Select Preferred $38.32 month
17. Assurity Life Insurance Company
Term Life Insurance A- Preferred Plus Non-Tobacco $43.33 month
18. United of Omaha
Term Life Answers – A+ Preferred Plus Non-Tobacco $45.11 month
Term Life Insurance Calculator for $200,000 ($200k)
How Much Does A $200k Term Life Insurance Policy Cost?
The cost for a $200k term life insurance policy will vary continent on your age, build, medical history. and other health & life style factors.
As seen in our tables above, a $200,000 20 year term life insurance for a 40 year old male in excellent health (preferred plus life insurance class) is as low as $13.36 month and for someone in average health (standard) the rate is $27.40 month.
Bottom Line
The best rates for a $200k ($200,000) term life insurance policy are very affordable if you choose the right company, as you can see in the tables above.
Since each life insurance company has their own underwriting guidelines, it’s important to compare rates from several top life insurers to ensure you are getting the best deal.
FAQ
How much does a $200k term life insurance policy cost?
Rates range from $9.56 month to $601.38 month, depending on age, term and health class.
Do I need to do an exam for a $200k term life insurance policy?
Many applicants will not need an exam for a $200k term life policy, however it will depend on your age and your health.
Can the rates increase during the term?
No, whichever term you select: 10, 15, 20, 25, 30, 35 or 40 years, once you are approved and active the policy the rate cannot increase for the term you select regardless of changes in age or health.
Is there a waiting period for the $200k of coverage?
No, coverage begins from day one for natural causes and accidents without a waiting period.
Is the a penalty if I cancel early?
No, for a $200k term life insurance policy, the insurance company will lock in the rate for the term but you cancel anytime without a penalty.
Not Sure Which Life Insurance Health Class You Qualify For?
Take a look at our articles on the four main life insurance rate (health) classes:
- What Is Preferred Plus Life Insurance Health Class?
- What Is Preferred Life Insurance Health Class?
- What Is Standard Plus Life Insurance Health Class?
- What Is Standard Life Insurance Health Class
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