How Much Does A $400,000 Life Insurance Cost?

$400k life insurance policy cost

How Much Does A $400,000 Life Insurance Policy Cost?

The cost for a $400,000 life insurance policy can be as low as $11 month for a 25 year old up  and go up to $1,256 month for an 80 year old. Whether you are purchasing a policy for the first time or looking to replace a current policy, we’ll show you the best rates that are available from the nation’s top life insurance companies for term and whole life insurance.

$400,000 term and whole life insurance

Types of Life Insurance

There are two main types of life insurance, term life and whole life insurance. Below we'll explain how each works and show the sample premiums for a $400,000 policy.

Term Life Insurance

 Term life insurance is the purest and most affordable type of life insurance. You pay a premium for a specific period of time and if you pass away during that time the policy will pay out the death benefit to your beneficiaries.

Whole Life Insurance

 Whole life insurance as the name suggests, is life insurance coverage that lasts your entire lifetime. It can also have cash value component.


Term Life Insurance

Level term life insurance offers a fixed coverage amount and premiums for the time period (term) selected. Below are the term lengths available in the U.S.:

  • 10 Year Level Term
  • 15 Year Level Term
  • 20 Year Level Term
  • 25 Year Level Term
  • 30 Year Level Term
  • 35 Year Level Term
  • 40 Year Level Term

With level term life insurance, the rates are locked in for the term and cannot increase regardless in changes of age or health. However, the policy can be canceled at anytime without a penalty.

$400k Life Insurance – 10 Year Term

Below are the sample monthly rates for a $400,000 10 year level (fixed) term policy from one of the largest life insurance companies in the United States.

Age

Price

Amount

Rating

Term

25

$11

$400,000

A+

10 Year

30

$11

$400,000

A+

10 Year

35

$11

$400,000

A+

10 Year

40

$15

$400,000

A+

10 Year

45

$23

$400,000

A+

10 Year

50

$35

$400,000

A+

10 Year

55

$56

$400,000

A+

10 Year

60

$90

$400,000

A+

10 Year

65

$156

$400,000

A+

10 Year

70

$277

$400,000

A+

10 Year

75

$524

$400,000

A+

10 Year

80

$1,256

$400,000

A+

10 Year

*Rates for a male in excellent health, D.O.B. 11/1 with an A+ Superior rated carrier.

$400k Life Insurance – 15 Year Term

Below are the sample monthly rates for a $400,000 15 year level (fixed) term policy from one of the largest life insurance companies in the United States.

Age

Price

Amount

Rating

Term

25

$11

$400,000

A+

15 Year

30

$12

$400,000

A+

15 Year

35

$12

$400,000

A+

15 Year

40

$17

$400,000

A+

15 Year

45

$30

$400,000

A+

15 Year

50

$45

$400,000

A+

15 Year

55

$70

$400,000

A+

15 Year

60

$121

$400,000

A+

15 Year

65

$207

$400,000

A+

15 Year

70

$381

$400,000

A+

15 Year

75

$969

$400,000

A+

15 Year

*Rates for a male in excellent health, D.O.B. 11/1 with an A+ Superior rated carrier.

$400k Life Insurance – 20 Year Term

Below are the sample monthly rates for a $400,000 20 year level (fixed) term policy from one of the largest life insurance companies in the United States.

Age

Price

Amount

Rating

Term

25

$16

$400,000

A+

20 Year

30

$16

$400,000

A+

20 Year

35

$18

$400,000

A+

20 Year

40

$25

$400,000

A+

20 Year

45

$38

$400,000

A+

20 Year

50

$58

$400,000

A+

20 Year

55

$92

$400,000

A+

20 Year

60

$170

$400,000

A+

20 Year

65

$307

$400,000

A+

20 Year

70

$647

$400,000

A+

20 Year

*Rates for a male in excellent health, D.O.B. 11/1 with an A+ Superior rated carrier.

$400k Life Insurance – 25 Year Term

Below are the sample monthly rates for a $400,000 25 year level (fixed) term policy from one of the largest life insurance companies in the United States.

Age

Price

Amount

Rating

Term

25

$21

$400,000

A+

25 Year 

30

$22

$400,000

A+

25 Year

35

$26

$400,000

A+

25 Year

40

$35

$400,000

A+

25 Year

45

$57

$400,000

A+

25 Year

50

$89

$400,000

A+

25 Year

55

$157

$400,000

A+

25 Year

60

$319

$400,000

A+

25 Year

*Rates for a male in excellent health, D.O.B. 11/1 with an A+ Superior rated carrier.

$400k Life Insurance – 30 Year Term

Below are the sample monthly rates for a $400,000 30 year level (fixed) term policy from one of the largest life insurance companies in the United States.

Age

Price

Amount

Rating

Term

25

$24

$400,000

A+

30 Year

30

$25

$400,000

A+

30 Year

35

$35

$400,000

A+

30 Year

40

$42

$400,000

A+

30 Year

45

$65

$400,000

A+

30 Year

50

$104

$400,000

A+

30 Year

55

$186

$400,000

A+

30 Year

*Rates for a male in excellent health, D.O.B. 11/1 with an A+ Superior rated carrier.

$400k Life Insurance – 35 Year Term

Below are the sample monthly rates for a $400,000 35 year level (fixed) term policy from one of the largest life insurance companies in the United States.

Age

Price

Amount

Rating

Term

25

$29

$400,000

A+

35 Year

30

$30

$400,000

A+

35 Year

35

$36

$400,000

A+

35 Year

40

$52

$400,000

A+

35 Year

45

$84

$400,000

A+

35 Year

50

$180

$400,000

A+

35 Year

*Rates for a male in excellent health, D.O.B. 11/1 with an A+ Superior rated carrier.

$400k Life Insurance – 40 Year Term

Below are the sample monthly rates for a $400,000 40 year level (fixed) term policy from one of the largest life insurance companies in the United States.

Age

Price

Amount

Rating

Term

25

$35

$400,000

A+

40 Year

30

$42

$400,000

A+

40 Year

35

$56

$400,000

A+

40 Year

40

$92

$400,000

A+

40 Year

45

$149

$400,000

A+

40 Year

*Rates for a male in excellent health, D.O.B. 11/1 with an A+ Superior rated carrier.

Whole Life Insurance

Whole life insurance is permanent coverage that lasts your entire lifetime with some policies having additional benefits such as cash value accumulation.

Age

Price

Amount

Rating

Duration

25

$121

$400,000

A+

Life

30

$144

$400,000

A+

Life

35

$177

$400,000

A+

Life

40

$225

$400,000

A+

Life

45

$281

$400,000

A+

Life

50

$339

$400,000

A+

Life

55

$483

$400,000

A+

Life

60

$562

$400,000

A+

Life

65

$763

$400,000

A+

Life

70

$1,023

$400,000

A+

Life

75

$1,415

$400,000

A+

Life

80

$2,530

$400,000

A+

Life

*Rates for a male in excellent health, D.O.B. 11/1 with an A+ Superior rated carrier.

*Rates above a for a guaranteed universal life insurance policy to age 121. This is a permanent life insurance coverage with no cash value.. Cash value policies will have a higher premium.

Conclusion

The cost of a $400,000 life insurance policy can be very affordable as seen in the tables above. Rates are as low as $35 month for a 50-year old in excellent health.

Every life insurance company has their own rate tables for a $400k policy. They also have their own underwriting guidelines that look at your: height and weight, blood pressure, cholesterol, medications, medical history, family history and other health and lifestyle factors to determine which rate and health class you will be eligible for that particular insurance company. Therefore, it’s important to compare rates from several top life insurance companies to ensure you are choosing the best policy for you.

Whether you are purchasing a life insurance policy for the first time or are looking to replace a $400k group life insurance plan, it’s important shop around  so you don’t needlessly overspend on your policy.


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