Today’s Term Life Insurance Rates

Term Life Insurance Rates for Today from The Nation's Top 25 Companies

If you’re reading this post you are likely looking for today’s term life insurance rates for 7/11/2024. While term life insurance rates do not change daily like mortgage interest rates, they can change a few times per year and the price difference can vary greatly from insurer to insurer for the same coverage. Below we’ll show you the current term life insurance rate costs and details from the nation’s top 30 term life insurers.

Let’s take a look exactly how much a life insurance policy costs today from each company. These rates are for a 40-year old female, in excellent health for a $1 million 20-year level term policy.

Insurance CarrierMonthly PremiumRating
Banner Life1$40.47A+
Protective Life2$40.48A+
Symetra Life1$40.49A
Pacific Life2$40.51A+
American General2$40.55A
Transamerica2$40.80A
Principal2$43.09A+
Lincoln National2$43.60A
Penn Mutual2$44.20A+
North American2$46.20A+
Midland National2$46.20A+
Equitable2$46.62A
Nationwide2$46.81A+
Cincinnati Life2$46.90A+
SBLI1$47.44A
Ethos1$47.71A+
Minnesota Life2$48.49A+
Thrivent2$48.59A++
Guardian2$48.92A++
State Farm6$50.49A++
AAA Life3$51.48A
Foresters1$51.63A
Ameritas2$52.04A
Prudential2$52.94A+
GBU Financial$53.10A-
Mutual of Omaha4$54.40A+
Life Ins Co SW5$55.00A+
Ladder Life1$56.40A+
MassMutual2$57.86A++
John Hancock2$61.22A+
Assurity1$66.99A-
Bestow1$77.86A+
Primerica4$83.13A+
Today’s life insurance rate chart by company for a $1 million 20-year level term policy, best health class with conversion option, if available, for a 40-year old female
  1. No medical exam, instant-issue possible
  2. Possible no medical exam
  3. No medical exam life insurance possible up to $500,000
  4. Possible no medical exam up to $300,000
  5. Possible no medical exam up to $250,000
  6. Possible no medical exam up to $50,000

*Date of birth 6/1/1984, 40-year old female, excellent health, non-smoker $1 million 20-year level term policy.

*Rating from A.M. Best

Today’s Term Life Insurance Policy Rate Spreadsheet

Below is a pricing table spreadsheet of the nation’s 17 best term life insurance companies for today’s term life insurance rates. The spreadsheet shows the rates for a $1 million 20-year level term life insurance policy for a 40-year old female in excellent health, non-smoker. Rates are from the top companies: Banner Life, Protective Life, Symetra Life, Pacific Life, American General, Transamerica, Lincoln National, North American, Nationwide, Cincinnati Life, Securian Financial, SBLI, MassMutual, Prudential, Mutual of Omaha, Columbus Life and John Hancock.

Today's term life insurance rates by company and spreadsheet breakdown (page 1)
Today's term life insurance rates by company and spreadsheet breakdown (page 2)
Today's term life insurance rates by company and spreadsheet breakdown (page 3)
Today's term life insurance rates by company and spreadsheet breakdown (page 4)

*Rates are for a 40-year old female for a $1 million 20-year level term policy at the top health class.

A Beginners Guide To Life Insurance

What Is Term Life Insurance?

Term life insurance provides the most amount of life insurance protection at the lowest cost. Coverage is at a fixed rate (called level term life insurance) for the selected period of time.

Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate.

What Is No Medical Exam Life Insurance?

No medical exam life insurance allows you to apply for a life insurance policy without the paramedical exam. Insurance companies still may request your medical records and also conduct a a telephone interview in lieu of the medical exam.

The rates for no medical exam life insurance are often very competitive to those that require a paramedical exam as seen above in the current life insurance rates table.

What Is Instant-Issue No Medical Exam Term Life Insurance?

Instant-issue no medical exam term life insurance is a new type of application process that allows younger and healthy applicants between the ages of 20-60 the ability to apply for a term life insurance policy and receive a decision within 18 minutes or less. The application is 100% digital and provides an instant-decision once the online application is completed. If approved, a level term life insurance policy will be active the same-day after payment and the final online forms are e-signed.

What Is Whole Life Insurance?

Whole life insurance is the simplest form of permanent life insurance, which provides coverage your entire life as long as the premiums are paid. The policy also has a cash value component. Whole life insurance is traditionally about 5x-15x more per month than term life insurance.

How Do Life Insurance Rates Work?

Life insurance rates that an insurer will offer you is determined by a mix of factors such as your age, height & weight, gender, medical history, family history and several other factors.

The longer the duration the greater the cost of the policy. This is due to the fact that the insurance company is guaranteeing a fixed rate for a longer period of time which means there is a greater risk for the insurance company that they will have to pay out a claim.

Factors That Will Affect Life Life Insurance Rates:

  • Your age. The younger you are the lower the cost.
  • Your build. Each life insurance has their own build charts. Height & weight is a major factor in life insurance underwriting.
  • Your medical history. Your medical history is a part of the underwriting process which determines final rates.
  • Your gender. Women typically pay less than males for life insurance since women statistically have a longer life expectancy.
  • Your family history. Family history of heart disease or cancer in parents or siblings before the age of 65 can affect your term life insurance rates.
  • Your health and lifestyle. Additional underwriting factors such as your driving record, tobacco use and drug and alcohol use, adverse credit-bankruptcies, criminal history also can affect term life insurance rates.

Why Compare Life Insurance Rates?

Your age, just a few pounds on the build chart, certain medications, lab readings, medical history, family history and even driving record affects which term life insurance company will offer the best rates. As seen in the charts above, rates can vary greatly from one insurer to the next for the same coverage.

It’s a good idea to compare quotes from at least 5 different life insurance companies. By comparing rates from several insurers, you will know that you are receiving the best rates based on your specific underwriting profile. This will allow you to save money, purchase more coverage and or for a longer term to maximize your life insurance budget.


How To Instantly Compare Today’s Term Life Insurance Rates Based On Your Age, Health and Term Duration

Enter your date of birth, gender, state, amount of insurance and term length to get today’s term life insurance quotes personalized for you.


Here’s what happens next:

STEP 1.

See your personalized rates

Today’s updated rates from highly rated life insurance companies are just a click away.

STEP 2.

Explore quotes further

Click ‘Request Application’ to lock in a rate quote.


Today’s Life Insurance Rates FAQS

What is a term life insurance rate lock?

Similar to a mortgage, level term life insurance will lock in the rate for the term selected.


What is the difference between health classes?

Most life insurance companies have 12 different health classes (Preferred Plus, Preferred, Standard Plus, Standard, Table 1, Table 2, Table 3, Table 4, Table 5, Table 6, Table 7 and Table 8). Factors such as your height & weight, medications, medical history, tobacco use, family history, and even driving record will determine which health class you fall into for a specific insurer company.


What term length is available for my age?

Those that are age 45-years olds and younger can qualify for a 40-year fixed level term policy. Those that are 49-years old younger can qualify for a 35-year fixed term policy. Those 50-year old and younger can qualify for a 30-year fixed term. A 60-year old can qualify for a 25-year term. A 70-year old or younger can qualify for up to a 20-year fixed term life policy.


What is a good rating for a term life insurance company?

The financial rating agency A.M. Best is considered the gold standard for term life insurance company ratings. A great rule of thumb is to choose a life insurance that has an A (Excellent) rating or better from A.M. Best.


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