A million dollars of life insurance is more affordable than most people assume — and often costs less than a monthly streaming subscription budget for young, healthy applicants.
Sample Rates: $1,000,000 20-Year Term
Rates vary by age, health class, and gender. These are approximate monthly premiums for preferred non-tobacco health class:
- 25-year-old male: $28-$35/month
- 35-year-old male: $40-$55/month
- 45-year-old male: $100-$140/month
- 55-year-old male: $280-$380/month
- 25-year-old female: $22-$28/month
- 35-year-old female: $32-$45/month
- 45-year-old female: $80-$110/month
- 55-year-old female: $200-$280/month
Factors That Move the Needle
Tobacco use doubles or triples premiums. Standard (average) health vs preferred can add 40-60%. A term of 30 years instead of 20 adds 20-40%. Substandard health ratings add 25-150%+ depending on severity.
How to Get the Best Rate on $1M Coverage
Shop 5+ carriers through an independent agent. No-exam policies cost 10-30% more. Buy when young and healthy — a 30-year-old paying $45/month for 30 years pays $16,200 total for $1M protection. Waiting to age 40 might cost $80/month — $28,800 over the same period for less coverage years.