Get an instant estimate for term life insurance premiums.
Male
Female
No (Non-Smoker)
Yes (Smoker)
Preferred Plus (Excellent)
Preferred (Very Good)
Standard Plus (Good)
Standard (Average)
10 Years
15 Years
20 Years
25 Years
30 Years
Monthly Premium Estimate:$0.00
Annual Premium Estimate:$0.00
Total Cost Over Term:$0.00
* This calculator provides estimates based on general actuarial data. Final rates are determined by medical underwriting, family history, and specific insurer guidelines.
Understanding Term Life Insurance Rates
Term life insurance is one of the most affordable ways to protect your family's financial future. Unlike whole life insurance, which builds cash value, term life provides pure death benefit protection for a specific period—typically between 10 and 30 years. Because it is temporary and lacks an investment component, the rates are generally much lower.
Did you know? Term life insurance rates are locked in for the duration of the term. If you buy a 20-year policy at age 30, you pay the same monthly premium until you are 50, regardless of changes to your health.
Key Factors That Influence Your Premium
Insurance carriers use complex algorithms to determine risk. The primary factors used in our Term Life Rates Calculator include:
Age: This is the single biggest factor. Rates increase roughly 8-10% for every year you wait to buy coverage. Buying young locks in low rates for decades.
Gender: Statistically, women have longer life expectancies than men, resulting in premiums that are typically 15-25% lower for the same coverage.
Nicotine Use: Smokers and tobacco users pay significantly higher rates—often 200% to 300% more than non-smokers due to increased health risks.
Health Class:
Preferred Plus: Excellent health, ideal weight, no family history of early heart disease.
Preferred/Standard Plus: Minor health issues (like controlled cholesterol) but generally healthy.
Standard: Average health, may have higher BMI or managed chronic conditions.
Term Length: Longer terms (e.g., 30 years) pose a higher risk to the insurer that a claim will be paid out, resulting in higher monthly premiums compared to a 10-year term.
How Much Coverage Do You Need?
A general rule of thumb used by financial planners is to secure coverage worth 10 to 12 times your annual income. This creates a financial cushion that can replace your salary for a decade or more, allowing your dependents to maintain their standard of living, pay off debts (like a mortgage), and fund future expenses like college tuition.
Reducing Your Rates
If the estimated rates look high, consider these strategies to lower your premiums:
Laddering Policies: Instead of one large 30-year policy, buy a 30-year policy to cover the mortgage and a 20-year policy to cover income replacement until retirement.
Improve Health Metrics: Lowering your BMI, cholesterol, or blood pressure before applying can move you into a better health class.
Quit Smoking: Most carriers require you to be nicotine-free for 12 months to qualify for non-smoker rates, which offers massive savings.
function calculateInsuranceRate() {
// 1. Get Input Values
var age = parseInt(document.getElementById("applicantAge").value);
var gender = document.getElementById("genderSelect").value;
var nicotine = document.getElementById("nicotineUse").value;
var health = document.getElementById("healthRating").value;
var coverage = parseFloat(document.getElementById("coverageAmount").value);
var term = parseInt(document.getElementById("termLength").value);
// Validation
if (isNaN(age) || age 85) {
alert("Please enter a valid age between 18 and 85.");
return;
}
if (isNaN(coverage) || coverage 50 && term >= 20) termFactor *= 1.3;
if (age > 60 && term >= 15) termFactor *= 1.5;
// 3. Calculation
// Monthly Premium = (Coverage / 1000) * BaseRate * AgeFactor * GenderFactor * NicotineFactor * HealthFactor * TermFactor
var rawMonthly = (coverage / 1000) * baseRatePer1k * ageFactor * genderFactor * nicotineFactor * healthFactor * termFactor;
// Minimum premium safeguard (usually policies have a minimum fee, e.g., $15/mo)
if (rawMonthly < 12) rawMonthly = 12;
var monthlyPremium = rawMonthly;
var annualPremium = monthlyPremium * 12 * 0.95; // 5% discount for annual often applies
var totalCost = monthlyPremium * 12 * term;
// 4. Output Display
document.getElementById("monthlyResult").innerText = formatCurrency(monthlyPremium) + " / mo";
document.getElementById("annualResult").innerText = formatCurrency(annualPremium) + " / yr";
document.getElementById("totalTermCost").innerText = formatCurrency(totalCost);
// Show results
document.getElementById("resultsArea").style.display = "block";
}
function formatCurrency(num) {
return "$" + num.toLocaleString("en-US", {minimumFractionDigits: 2, maximumFractionDigits: 2});
}