The Average Rate for a 30-Year Term Life Insurance Policy

To ensure you’re getting the life insurance coverage you need at a price you can afford, it’s crucial to compare coverage and rates available to you. Not only can we help you better understand how the average rate for a 30-year term life insurance policy is calculated, but we can provide multiple quotes from some of the most trusted insurance companies in just minutes.

A young man in glasses concentrates on reading online what life insurance premiums are based on

What are life insurance premiums based on?

Life insurance premiums are typically based on factors that make up your “risk profile,” including:

  • Gender
  • Age
  • General health
  • Unhealthy habits, such as smoking and drinking.

Some life insurance calculators may consider additional factors such as geographic location, family health history, driving violations or even your hobbies. Additionally, the type of policy, policy length and the benefit amount you choose will have an impact on the cost of your life insurance policy, but a 30-year term life insurance policy will likely cost more than a 20- or 25-year term life insurance policy of the same benefit amount.

How much does a 30-year term life insurance policy cost?

It’s hard to determine how much a 30-year term life insurance policy might cost, as it can be different from person-to-person. When you’re younger and healthier, you generally have a better chance of being able to find a lower life insurance rate. The cost of life insurance coverage increases every year as you age, so the best time to buy life insurance is always now.

That being said, if you think million-dollar life insurance policies must cost a fortune, you’d be surprised at how affordable they actually can be. We can help you compare coverage and rates from multiple insurance companies in just minutes, making sure you’re getting the best policy available to you.

Can I change my policy later?

Your 30-year term life insurance policy lasts for 30 years, but there’s a good chance your life circumstances may change during that period of time. Down the road, you may wonder whether your 30-year term life insurance policy is still the right fit. Maybe you’ve made healthy lifestyle changes that decrease your risk profile, you’ve noticed life insurance prices decreasing across the industry, or maybe a new baby, a new home or another life change has impacted your life insurance needs. All of these factors could lead to the potential opportunity of a lower rate and/or more coverage.

You don’t have to stay locked into your original life insurance rate if there are lower prices available or you have changes in your coverage needs. We can help you re-shop your rates at any time, ensuring you feel confident that you have the coverage you need at a price you can afford.

Let SelectQuote Help

Buying life insurance can be one of the biggest decisions you’ll make to protect your family’s financial future. In just minutes, we can compare coverage and rates from some of the most trusted insurance carriers in the industry. At SelectQuote, we have helped millions of families find the coverage they need at a rate they can afford and we can help you, too.

We do the shopping. You do the saving.