How Much is a $100,000 Term Life Insurance Policy?
last updated on March 22, 2024Table of contents
A $100k ($100,000) term life insurance policy is one of the most popular policies in the country today. For many Americans, especially seniors, a $100,000 term life insurance policy provides the proper balance between having enough coverage to protect loved ones while also having a monthly premium that is affordable.
$100k term life insurance is ideal for:
- Mortgage protection
- Income protection
- Cover final expenses
- Pay off debts
- Cover educational expenses
- SBA life insurance loan requirement
- Peace of mind
- Estate planning
Below are the actual best $100k term life insurance rates sorted by: 10, 15, 20, 25 and 30 year level terms at the best health category, Preferred Plus and the average health category, Standard.
Why A $100,000 Term Life Insurance Policy?
There are many reasons why a $100k term life insurance policy is one of the most common policies which include:
- There is a price break (cost per thousand) in life insurance at $100,000 from many of the top companies
- Many of the largest life insurance companies in the country begin offering their term life insurance policies at $100,000
- A $100k term life policy is ideal for mortgage protection, especially for seniors
- $100k is a popular amount to cover outstanding education loans
- $100k is a popular policy for seniors to cover final expenses and provide additional money, income tax free for outstanding debts and daily living expenses for their spouse and loved ones
- A $100k 20-year term life policy is a popular policy for many stay-at-home parents
- A $100k policy is a popular face amount to supplement a group policy offered from an employer
Sample Rates for a $100k 10-Year Term Life Insurance Policy
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $7 | $10 |
| 30 | $7 | $10 |
| 40 | $8 | $12 |
| 50 | $14 | $24 |
| 60 | $29 | $51 |
| 70 | $85 | $147 |
| 80 | $383 | $537 |
Sample Rates for a $100k 15-Year Term Life Insurance Policy
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $7 | $9 |
| 30 | $7 | $10 |
| 40 | $9 | $15 |
| 50 | $18 | $28 |
| 60 | $37 | $68 |
| 70 | $119 | $206 |
Sample Rates for a $100k 20-Year Term Life Insurance Policy
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $8 | $10 |
| 30 | $8 | $12 |
| 40 | $21 | $35 |
| 50 | $52 | $89 |
| 60 | $201 | $304 |
| 70 | N/A | N/A |
Sample Rates for a $100k 25-Year Term Life Insurance Policy
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $10 | $14 |
| 30 | $11 | $15 |
| 40 | $15 | $24 |
| 50 | $33 | $49 |
| 60 | $95 | $120 |
| 70 | NA | NA |
Sample Rates for a $100k 30-Year Term Life Insurance Policy
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $11 | $18 |
| 30 | $12 | $19 |
| 40 | $17 | $28 |
| 50 | $35 | $61 |
| 60 | NA | NA |
| 70 | NA | NA |
Sample Rates for a $100k 20-Year Term No Medical Life Insurance Policy
| Age | Preferred Plus | Standard |
|---|---|---|
| 20 | $9 | $14 |
| 30 | $9 | $14 |
| 40 | $11 | $18 |
| 50 | $23 | $37 |
| 60 | $61 | $94 |
The rates from the tables above are from some of the nation’s best term life insurance companies. These companies include: Pacific Life, Banner Life, Transamerica, Protective Life and SBLI. To see how much a $100k term life insurance company will cost you from these companies and many others please use our instant quote engine.
Level term life insurance which locks in the rate and coverage amount for an agreed upon period time when the policy is taken out is preferable to a step rate term life insurance policy where the rates increase every 5 years when the insured enters into each new age bracket and the rates become increasingly expensive.
Bottom Line
A $100,000 term life insurance policy is one of the most common in America today and for good reason. For many Americans, a $100k level term life policy protection provides the proper balance of having enough coverage while also maintaining an affordable premium and at a fixed rate. With term life insurance rates at an all time low, the $100k term policy amount is being purchased by more consumers than ever before.
To secure the best $100k term life insurance rates in the nation, it’s imperative to compare rates from several top term life insurance companies. Each insurer has their rate sheets and underwriting guidelines based on many factors such as: age, build, medications and health history so the prices can vary significantly for the same $100k in coverage from one company to the next.
FAQ
What does $100k “level” term life insurance mean?
A $100k level term life policy insurance means the policy will pay out $100,000 to the beneficiary(s), income tax free, during the term selected and the premiums are guaranteed not to increase regardless in changes in age or health for the term. However, you can cancel the policy at anytime without a penalty.
What is the average life insurance policy amount?
The average size of a new individual life insurance policy purchased in the U.S. is $187k (according to the ACLI Fact Book).
How much is a $100k term life insurance policy?
Rates range from $8 month to $537 month, depending on age, term and health. Use a term life insurance calculator to see the price estimates based on your age, health and term.
Which Life Insurance Companies Are The Best for A $100k Term Policy?
Each life insurance has their own rates and underwriting guidelines so it’s important to compare rates from several insurers. The life insurance companies that typically have the lowest rates in the country for a $100,000 level term life insurance policy include: Pacific Life, Transamerica, Banner Life, Protective Life, Prudential, Mutual of Omaha, AIG, Symetra Life, SBLI and Lincoln Financial.
