The average cost of term life insurance has been dropping over the last several years. If it’s been a while since you’ve updated your coverage, consider adding a term life insurance policy to your financial portfolio.
Value Penguin, a provider of consumer information, recently released a study of average term insurance costs by age. For $250,000 in coverage, you’ll pay as little as $28 per month, depending on your age and smoking status. Costs below are averages; we can help you find the most affordable coverage for your age, health and smoking status, and geographical area.
| Age | Average Monthly Life Insurance Cost (Non-Smoker) | Average Monthly Life Insurance Cost (Smoker) |
|---|---|---|
| 25 | $27.53 | $55.71 |
| 30 | $27.88 | $60.17 |
| 35 | $29.98 | $67.42 |
| 40 | $36.03 | $97.95 |
| 45 | $51.62 | $156.80 |
| 50 | $76.58 | $233.21 |
| 55 | $121.28 | $372.47 |
| 60 | $207.70 | $555.73 |
| 65 | $347.67 | $988.32 |
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