Term Life Insurance Calculator 2026
Free term life insurance calculator. Compare 10, 20, and 30-year term life insurance costs by age, health, and coverage amount. Average cost: $20-$50/month.
Term Life Insurance Costs by Age (2026)
| Age | 10-Year Term ($500K) | 20-Year Term ($500K) | 30-Year Term ($500K) |
|---|---|---|---|
| 25 | $12-18/mo | $16-24/mo | $22-35/mo |
| 30 | $14-20/mo | $18-28/mo | $26-42/mo |
| 35 | $15-24/mo | $22-35/mo | $35-55/mo |
| 40 | $20-32/mo | $32-52/mo | $55-90/mo |
| 45 | $30-48/mo | $52-85/mo | $90-150/mo |
| 50 | $48-78/mo | $85-140/mo | $160-280/mo |
| 55 | $78-130/mo | $140-240/mo | Often unavailable |
| 60 | $130-220/mo | $250-450/mo | Not available |
Key insight: Every year you wait costs 5-10% more. A healthy 30-year-old pays ~$25/month for $500K of 20-year coverage. At 40, that same policy costs ~$42/month.
Term vs Whole Life — Which Should You Choose?
| Feature | Term Life | Whole Life |
|---|---|---|
| Monthly Cost (age 35, $500K) | $25-40 | $350-500 |
| Duration | 10, 20, or 30 years | Lifetime |
| Cash Value | None | Builds slowly |
| Best For | Most families | Estate planning |
💡 How Much Coverage Do You Need?
- Rule of thumb: 10-12x your annual income
- Add outstanding mortgage balance
- Add 4 years of college tuition per child ($100K each)
- Subtract existing savings and employer life insurance