How to Choose the Best Term Life Insurance: Comprehensive Comparison for Families

Introduction: Securing Your Family’s Financial Future

Life insurance represents one of the most fundamental pillars of financial security for families. Among the various types available, term life insurance stands out as a popular and accessible option for providing financial protection during the years when your family needs it most. Unlike permanent life insurance policies that combine coverage with investment components, term life insurance offers straightforward protection for a specific period, typically at a more affordable premium.

For families with young children, mortgages, outstanding debts, or other financial obligations, term life insurance provides a crucial safety net. In the event of an untimely death, the policy’s death benefit can replace lost income, pay off debts, fund education expenses, and ensure your loved ones maintain their standard of living during an incredibly challenging time.

This comprehensive guide will walk you through everything you need to know about selecting the right term life insurance policy for your family’s unique needs. From understanding policy fundamentals to comparing leading providers, we’ll provide the insights necessary to make an informed decision about this critical financial protection tool.

Understanding Term Life Insurance Fundamentals

What Is Term Life Insurance?

Term life insurance provides coverage for a specified period or “term” – typically ranging from 10 to 30 years. If the insured person passes away during this term, the policy pays a death benefit to the named beneficiaries. If the insured outlives the policy term, coverage expires with no benefit paid (unless the policy is renewed or converted).

This structure differs significantly from permanent life insurance options like whole life or universal life, which provide coverage for your entire lifetime and include a cash value component that grows over time. While permanent policies offer lifelong protection, their premiums can be 5-15 times higher than comparable term policies.

Term life insurance’s simplicity and affordability make it particularly well-suited for families with specific, time-limited financial protection needs.

Key Components of Term Life Insurance Policies

When evaluating term life insurance options, several key components deserve your attention:

Death Benefit: This is the amount paid to your beneficiaries if you die while the policy is active. Death benefit amounts typically range from $100,000 to several million dollars, depending on your needs and qualifications.

Term Length: The period during which the policy provides coverage. Common term options include 10, 15, 20, 25, and 30 years. Some insurers now offer customizable terms (such as 23 or 27 years) to align precisely with specific needs like mortgages or when children will become financially independent.

Premium: The amount you pay (typically monthly or annually) to keep the policy in force. Term insurance premiums generally remain level (unchanged) throughout the initial term period.

Renewability: Many term policies include a renewability provision allowing you to extend coverage beyond the original term without providing new medical evidence of insurability, though premiums will increase substantially based on your new age.

Convertibility: This valuable feature allows you to convert your term policy to permanent coverage (like whole life) without a medical exam, typically within a specific timeframe or age limit.

Riders: Optional add-ons that enhance or customize your policy, such as accelerated death benefits, child riders, or waiver of premium provisions.

Determining Your Family’s Life Insurance Needs

Calculating Appropriate Coverage Amount

Determining how much life insurance you need is a crucial first step. While general rules of thumb (like 10-15 times your annual income) provide a starting point, a more personalized approach considers your family’s specific financial situation and goals.

A comprehensive needs analysis should account for:

Income Replacement: Calculate how many years of income your family would need to maintain their standard of living. Consider your spouse’s earnings, career potential, and whether they might reduce work hours to care for children.

Debt Payoff: Include mortgage balances, auto loans, student loans, credit cards, and other outstanding debts your family would need to settle.

Education Expenses: Estimate future college costs for your children, considering tuition inflation of approximately 5-7% annually.

Final Expenses: Account for funeral costs, which average $7,000-$12,000 in the United States.

Emergency Fund: Include 3-6 months of household expenses as a buffer for unexpected costs.

Future Financial Goals: Consider other financial objectives your family might have, such as helping with a child’s wedding or home purchase.

Existing Resources: Subtract existing resources like current savings, investments, and any employer-provided life insurance.

Several reputable online calculators can help with this analysis. For instance, Life Happens offers a comprehensive calculator that accounts for multiple factors in determining your coverage needs.

Selecting the Right Term Length

The appropriate term length should align with your family’s specific financial timeline. Consider these key factors:

Youngest Child’s Age: Many families select a term that extends until their youngest child reaches financial independence (typically through college graduation).

Mortgage Duration: If protecting your family’s ability to remain in your home is a priority, consider a term that matches or exceeds your mortgage’s remaining years.

Years Until Retirement: Your life insurance needs often decrease significantly once you’ve accumulated substantial retirement savings. Consider a term that bridges the gap until your retirement accounts are sufficiently funded.

Spouse’s Financial Independence: If your spouse would need time to advance their career or education after your death, ensure your term provides coverage during this transition period.

For young families, 20- or 30-year terms are often appropriate as they cover the period of greatest financial vulnerability. Older individuals or those with specific, shorter-term obligations might opt for 10- or 15-year policies.

Types of Term Life Insurance Policies

Level Term Life Insurance

Level term is the most common and straightforward form of term life insurance. Both the death benefit and premium payments remain constant throughout the entire term. This predictability makes budgeting simple and provides consistent protection for your designated term.

Most major insurers offer level term policies with terms ranging from 10 to 30 years in 5-year increments. Some companies are now offering more flexible term options to match specific needs more closely.

Decreasing Term Life Insurance

With decreasing term insurance, the death benefit gradually decreases over the policy term while premiums typically remain level. This structure is designed to match declining financial obligations, such as a mortgage or other loans with diminishing balances.

While less common than level term, decreasing term policies can be appropriate if your primary concern is protecting a specific debt obligation. However, many financial advisors recommend level term for its constant protection, especially since overall family financial needs don’t always decrease proportionally over time.

Annual Renewable Term (ART)

Annual renewable term policies provide coverage for one year with a guaranteed option to renew each year without evidence of insurability. Premiums start lower than longer-term policies but increase annually as you age.

ART policies can be suitable for short-term needs or situations where you anticipate significant changes in your insurance requirements within a few years. However, if you need coverage for more than a few years, traditional level term policies typically offer better long-term value.

Return of Premium (ROP) Term Insurance

Return of premium term insurance refunds all or a portion of the premiums paid if you survive the policy term. This feature addresses the concern of “wasting money” if you outlive your policy.

While attractive on the surface, ROP policies charge significantly higher premiums than standard term policies—often 2-3 times more. Many financial advisors suggest investing the premium difference instead, as this approach usually yields better long-term results.

Important Policy Features and Riders

Policy Conversion Options

The ability to convert your term policy to permanent coverage without a medical exam represents one of the most valuable features in term insurance. This option provides flexibility if your health deteriorates or your needs change, making you want coverage beyond the original term.

When evaluating conversion privileges, consider:

• Conversion Period: How long you have to exercise the conversion option
• Available Permanent Products: Which permanent policies you can convert to
• Partial Conversion: Whether you can convert just a portion of your coverage
• Credit for Time Insured: Whether your new permanent policy rates are based on your original age or current age

Companies like Northwestern Mutual and State Farm are known for flexible conversion options.

Accelerated Death Benefit Rider

This increasingly common rider allows you to access a portion of your death benefit if you’re diagnosed with a terminal illness (typically defined as a life expectancy of 12-24 months). This feature can help cover medical expenses and maintain quality of life during your final months.

Many insurers now include this rider at no additional cost, but terms vary significantly regarding:

• Qualifying conditions
• Maximum acceleration percentage (typically 25-75% of the death benefit)
• Effect on remaining death benefit and premiums

Waiver of Premium Rider

This rider waives premium payments if you become totally disabled and unable to work for an extended period (typically six months or longer). While adding approximately 10-15% to your premium cost, it provides valuable protection for your policy during a period when you might otherwise be unable to maintain payments.

When evaluating waiver of premium riders, carefully review:

• The specific definition of disability
• How long you must be disabled before premiums are waived
• Whether waived premiums must be repaid if you recover
• Age restrictions on when the rider benefit ends

Child Rider

Rather than purchasing separate policies for each child, a child rider adds a modest amount of life insurance coverage (typically $10,000-$25,000) for all your children under one rider for a small additional premium. Coverage usually extends until the child reaches adulthood (age 18-25, depending on the insurer) or the base policy expires.

Companies like Protective Life offer competitive child rider options that cover all current and future children in your family under a single rider.

Guaranteed Insurability Rider

This rider allows you to purchase additional insurance at specified future dates without providing evidence of insurability. This feature is particularly valuable if you anticipate increased insurance needs due to family growth, income increases, or other life changes.

While more common on permanent policies, some term insurers offer variations of this rider, particularly for longer-term policies.

The Underwriting Process Explained

Traditional Full Underwriting

The standard underwriting process involves several steps to assess your risk profile:

Application: You’ll complete a detailed questionnaire about your health, family medical history, occupation, lifestyle, and financial situation.

Medical Exam: A paramedical professional will conduct a basic health screening including height, weight, blood pressure, and collection of blood and urine samples. This is typically conducted at your home or workplace at no cost to you.

Medical Records: The insurer may request records from your doctors to verify information or investigate specific health concerns.

Additional Testing: Based on your age, coverage amount, and initial findings, additional tests like an EKG, treadmill stress test, or more extensive blood work might be required.

Financial Verification: For larger policies (typically over $1 million), financial documentation may be requested to justify the coverage amount.

Prescription Check: Insurers review databases of prescription medications you’ve been prescribed.

Motor Vehicle and Criminal Reports: Driving records and any criminal history are typically checked.

This process typically takes 3-8 weeks, though simple cases can be completed faster. While comprehensive, full underwriting generally results in the lowest possible premiums if you’re in good health.

Accelerated Underwriting

Many insurers now offer accelerated underwriting programs that can approve certain applicants without a medical exam. These programs use advanced algorithms and data sources to assess risk based on:

• Your application responses
• Prescription drug history
• Medical claims data
• Credit attributes (not your actual credit score)
• Motor vehicle records
• Public records

Companies like Haven Life, backed by MassMutual, specialize in accelerated underwriting processes that can provide immediate decisions for qualified applicants.

Accelerated underwriting is typically available for:

• Applicants under age 50-60 (varies by insurer)
• Coverage amounts up to $1-3 million (varies by insurer)
• Those with clean health histories and limited risk factors

While convenient, be aware that if you don’t qualify for accelerated underwriting, you’ll likely be routed to traditional underwriting with a medical exam.

Simplified Issue Policies

Simplified issue policies require no medical exam and ask only a limited number of health questions. The application process is quicker and more straightforward, but this convenience comes at a cost—premiums are typically 15-30% higher than fully underwritten policies, and maximum coverage amounts are lower (often capped at $500,000).

These policies are best suited for those who:

• Need coverage quickly (approval can often be obtained within days)
• Have moderate health issues that might complicate traditional underwriting
• Have anxiety about medical exams
• Need modest coverage amounts

Guaranteed Issue Policies

Guaranteed issue policies ask no health questions and approve all applicants within eligible age ranges (typically 50-80). However, these policies come with significant limitations:

• Much higher premiums (often 4-8 times higher than traditional term)
• Low coverage amounts (typically maxing out at $25,000-$50,000)
• Graded death benefits that don’t pay the full amount if death occurs within the first 2-3 years (except for accidents)

Given these restrictions, guaranteed issue policies should be considered only when health issues prevent qualifying for other coverage options.

Comparing Premium Factors and Costs

Key Factors Affecting Term Life Insurance Rates

Multiple factors influence your term life insurance premiums:

Age: Perhaps the most significant factor—rates increase approximately 8-10% for each year you age.

Gender: Women typically pay 25-40% less than men of the same age due to longer average lifespans.

Health Status: Current health conditions, treatment compliance, and stability of any conditions significantly impact rates.

Family Medical History: History of heart disease, cancer, or other serious conditions in parents or siblings, particularly with early onset (before age 60-65).

Tobacco Use: Smokers typically pay 2-3 times more than non-smokers, with most insurers requiring 12+ months tobacco-free for non-smoker rates.

Build: Height/weight ratios outside of preferred ranges affect pricing.

Driving Record: Recent DUIs, multiple violations, or accidents can significantly increase rates.

Occupation and Hobbies: High-risk jobs (like roofing or mining) or hobbies (like scuba diving or aviation) can result in higher premiums or exclusions.

Financial Factors: Some insurers consider credit information as part of their risk assessment.

Price Comparison Strategies

When shopping for term life insurance, strategic comparison is essential for finding the best value. Consider these approaches:

Independent Insurance Broker: Working with an independent broker who represents multiple insurance companies can provide access to a wider range of options tailored to your specific health profile and needs. Brokers like Policygenius or SelectQuote can help navigate the market.

Online Comparison Tools: Platforms like Term4Sale and NerdWallet allow you to compare quotes from numerous insurers simultaneously.

Price Guarantees: Some insurers offer to match or beat competitors’ prices for equivalent coverage. Banner Life, for instance, has been known to offer competitive price matching.

Annual vs. Monthly Payments: Paying annually instead of monthly typically saves 2-8% on premiums, though this varies by insurer.

Ladder Strategy: Rather than purchasing a single large policy, some families benefit from “laddering” multiple policies with different term lengths. For example, instead of a $1 million 30-year policy, you might purchase:

• $500,000 for 30 years (long-term protection)
• $300,000 for 20 years (while children are dependent)
• $200,000 for 10 years (covering early mortgage years)

This approach provides maximum coverage when needs are highest while reducing overall premium costs. Companies like Ladder specialize in this flexible approach to coverage.

Comparing Top Term Life Insurance Companies

Financial Strength and Stability Ratings

When purchasing life insurance, the financial strength of the company is paramount—you need an insurer that will remain solvent to pay claims decades in the future. Several independent rating agencies evaluate insurers’ financial stability:

A.M. Best: The oldest and most established agency specifically focused on insurance companies. Ratings range from A++ (Superior) to F (In Liquidation).

Standard & Poor’s: Provides ratings from AAA (Extremely Strong) to CC (Highly Vulnerable).

Moody’s: Offers ratings from Aaa (Exceptional) to C (Lowest Rated).

Fitch: Provides ratings from AAA (Exceptionally Strong) to D (Distressed).

For long-term policies, consider insurers with ratings of A or better from A.M. Best and AA or better from S&P. You can check current ratings through each agency’s website or through aggregator sites like Investopedia.

Customer Satisfaction and Claims Experience

Financial stability alone doesn’t guarantee a positive experience. Customer satisfaction metrics provide insight into service quality, application process, and most importantly, claims experience.

J.D. Power Life Insurance Study: This annual study measures customer satisfaction across application and orientation, communications, interaction, product offerings, price, and statements.

National Association of Insurance Commissioners (NAIC) Complaint Ratio: This standardized measurement shows how many complaints an insurer receives relative to its market share. The national median is 1.0; companies with ratios below 1.0 receive fewer complaints than expected for their size.

Better Business Bureau (BBB) Ratings: While not insurance-specific, BBB ratings reflect how companies respond to customer issues.

Companies like State Farm, Northwestern Mutual, and New York Life consistently rank highly on customer satisfaction metrics.

Policy Flexibility and Features Comparison

Beyond basic coverage, consider these features when comparing policies:

Conversion Options: Companies like Prudential and Lincoln Financial offer particularly flexible conversion privileges, including partial conversions and long conversion periods.

Living Benefits: Insurers like Protective Life include living benefits at no additional cost, allowing access to death benefits if you experience critical, chronic, or terminal illness.

Premium Guarantees: Most term policies guarantee level premiums for the initial term, but some offer additional guarantees for renewal periods.

Riders Availability: Companies differ significantly in available riders and their costs. Principal Financial offers an extensive selection of customization options.

Policy Management Tools: Many insurers now offer digital tools for policy management, document access, and beneficiary changes. Haven Life and Ethos are known for their user-friendly digital experiences.

Company-Specific Strengths and Specializations

Different insurers excel in different areas, making some better matches for specific situations:

Health Considerations: Companies like Banner Life and Protective Life often offer competitive rates for those with well-controlled health conditions like diabetes or high blood pressure.

Occupational Hazards: If you work in a high-risk occupation, companies like Principal Financial and Prudential may offer more favorable classifications.

Age Specialization: For older applicants (60+), companies like AIG and Mutual of Omaha often provide competitive offerings.

Military Personnel: USAA and Navy Federal offer specialized policies for active duty and veteran service members.

Smokers and Former Smokers: Companies like Prudential may offer better rates for smokers or those who have recently quit.

Application Process and Best Practices

Preparing for the Life Insurance Application

Proper preparation can streamline the application process and potentially improve your rate classification:

Gather Important Information:

• Social Security number and identification
• Income documentation
• Existing life insurance policy details
• Names, birthdates, and Social Security numbers of beneficiaries
• Medical history including diagnoses, treatments, and physician contact information
• Family medical history (particularly parents and siblings)
• Prescription medication list with dosages
• Financial information for justifying coverage amount

Schedule Your Medical Exam Strategically:

• Morning appointments typically yield better results
• Fast for 8-12 hours before the exam (water is permitted)
• Avoid strenuous exercise for 24 hours before the exam
• Limit salt, sugar, caffeine, and alcohol for 24-48 hours before
• Get adequate sleep the night before

Temporary Insurance Options: Many insurers offer temporary coverage during the application process through a Temporary Insurance Agreement (TIA), providing protection while underwriting is completed. This typically requires:

• Submitting the application
• Completing the medical exam (if required)
• Paying the first premium
• Meeting health qualifications

Companies like Mutual of Omaha and Nationwide are known for their comprehensive temporary coverage options.

Common Application Mistakes to Avoid

Certain errors can delay approval or result in higher premiums:

Inaccurate Health Information: Dishonesty about health conditions, medications, or habits can lead to denial or, worse, rescission of the policy if discovered later. Insurance companies have access to comprehensive medical databases and will likely discover discrepancies.

Incomplete Family History: Failure to provide complete information about family medical history can affect underwriting decisions.

Inconsistent Answers: Providing different information to the agent, on the application, and to the medical examiner raises red flags.

Applying with Multiple Companies Simultaneously: While getting quotes from multiple companies is recommended, submitting full applications to several insurers at once can trigger fraud alerts in the Medical Information Bureau (MIB) system.

Failure to Disclose Activities: Not disclosing high-risk hobbies or travel plans can jeopardize your coverage.

Inappropriate Coverage Amount: Requesting coverage significantly exceeding your financial justification can delay processing or result in denial.

The Application Timeline and What to Expect

Understanding the typical timeline helps set appropriate expectations:

Initial Application: 30-60 minutes, either with an agent or online

Medical Exam Scheduling: Typically within 3-7 days of application

Medical Exam: 30-45 minutes for basic exams; longer for more extensive testing

Underwriting Process: The most variable timeframe, typically 2-8 weeks depending on:

• Complexity of medical history
• Need for additional medical records
• Verification of information
• Lab result processing

Policy Issuance: Once approved, you’ll receive the policy for review, typically with a 10-30 day free look period during which you can cancel without penalty

Policy Activation: Coverage begins when you sign the policy acceptance and pay the first premium

Some insurers, like Haven Life and Bestow, offer accelerated processes that can complete all steps in as little as 24-48 hours for qualified applicants.

Managing Your Term Life Insurance Policy

Policy Review and Adjustment Strategies

Life insurance isn’t a “set it and forget it” product. Regular reviews ensure your coverage remains aligned with your family’s needs:

Annual Review Checklist:

• Has your income changed significantly?
• Have you experienced major life events (marriage, children, home purchase)?
• Has your debt situation changed?
• Have beneficiaries changed due to marriage, divorce, births, or deaths?
• Are your beneficiary designations still appropriate?
• Has your health improved sufficiently to justify reapplication for better rates?

Life Event Triggers for Policy Reviews:

• Marriage or divorce
• Birth or adoption of children
• Home purchase or refinancing
• Career changes or significant income increases
• Inheritance or other substantial asset acquisition
• Business ownership changes
• Significant health improvements

Adjustment Options:

• Increasing Coverage: Most insurers allow purchasing additional policies, though some offer specific riders for increasing coverage without new underwriting.
• Decreasing Coverage: Some policies allow reducing the death benefit with corresponding premium reductions.
• Changing Term Length: This typically requires applying for a new policy, though some insurers offer term conversion or extension riders.
• Rider Modifications: Certain riders can often be added or removed during the policy term.

Companies like Northwestern Mutual offer particularly flexible policies with built-in adjustment options.

Policy Renewal and Conversion Options

As your term policy approaches expiration, consider these options:

Term Renewal:

• Most policies include guaranteed renewability, allowing you to extend coverage annually without proving insurability
• Renewal premiums increase substantially each year based on your attained age
• Renewal is typically available until age 80-95, depending on the insurer
• This option is best for temporary needs or when health issues prevent qualifying for new coverage

Policy Conversion:

• Converting to permanent insurance (whole life or universal life) without medical underwriting
• Conversion periods vary—some allow conversion throughout the entire term, while others limit it to the first 5-15 years
• Partial conversions (converting only a portion of the death benefit) may be available
• Conversion rates are typically based on your attained age at conversion
• Some insurers offer special conversion credits or discounts during specific windows

Application for New Coverage:

• If you’re in good health, applying for a new term policy often provides the lowest rates
• Start the application process 3-6 months before your current policy expires to ensure continuous coverage
• Compare pricing between conversion options and new policies, especially if your health has changed

For policyholders with changing needs, insurers like Transamerica offer particularly flexible conversion options.

Claims Process and Beneficiary Considerations

Understanding the claims process helps beneficiaries receive benefits promptly during a difficult time:

Documentation Typically Required:

• Original death certificate (certified copy)
• Policy document or policy number
• Claim forms from the insurance company
• Beneficiary identification
• Payment method selection (lump sum, installments, retained asset account)

Claim Filing Steps:

1. Notify the insurance company of the policyholder’s death
2. Complete and submit claim forms
3. Provide required documentation
4. Select benefit payment method
5. Receive benefit payment (typically within 30 days of completed submission)

Contestability Period:

• Most policies include a 2-year contestability period from the policy issue date
• During this period, the insurer can investigate and potentially deny claims if they find material misrepresentations in the application
• After this period, the policy generally becomes incontestable except in cases of fraud

Beneficiary Best Practices:

• Name both primary and contingent (secondary) beneficiaries
• Review beneficiary designations after major life events
• Avoid naming minor children directly—consider trusts or custodial arrangements
• Be specific with beneficiary information (full names, relationships, Social Security numbers)
• Consider per stirpes designations to ensure benefits flow to descendants if a beneficiary predeceases you

Companies like New York Life are known for their efficient and compassionate claims processes.

Specialized Term Life Insurance Situations

Term Insurance for Business Purposes

Term life insurance serves several important business functions:

Key Person Insurance:

• Protects businesses against the financial impact of losing essential contributors
• Coverage amount based on the individual’s economic value to the company
• Premiums are not tax-deductible, but death benefits are generally received tax-free
• Structured with the business as both owner and beneficiary

Buy-Sell Agreement Funding:

• Provides liquidity for business ownership transfers upon death
• Can be structured as cross-purchase (partners own policies on each other) or entity-purchase (company owns policies)
• Coverage amounts based on business valuation
• Should be reviewed annually and after significant business value changes

Business Loan Protection:

• Secures business debt in the event of owner’s/guarantor’s death
• Often required by lenders for personally guaranteed business loans
• Coverage typically matches loan amount and term
• Can be structured with collateral assignment to the lender

Commercial insurance specialists at companies like Principal Financial offer expertise in structuring these arrangements.

Special Considerations for High-Net-Worth Individuals

Affluent families often have unique life insurance considerations:

Coverage Adequacy: Standard income replacement formulas may be insufficient for high-income earners. Consider lifestyle maintenance needs and significant assets that might generate estate tax liability.

Layered Coverage Strategy: Utilizing multiple policies from different insurers to achieve higher total coverage while diversifying carrier risk. This approach can also incorporate policies with different term lengths aligned to specific needs.

Estate Planning Integration: For estates potentially subject to estate taxes, proper policy ownership structure is critical. Options include:

• Irrevocable Life Insurance Trusts (ILITs) to keep proceeds outside the taxable estate
• Second-to-die policies covering both spouses with payment upon the second death
• Annual gifting strategies to fund premiums while utilizing gift tax exclusions

Premium Financing: For very large policies, borrowing to pay premiums can be advantageous, allowing capital to remain deployed in higher-returning investments while securing necessary coverage.

Companies specializing in high-net-worth coverage include Prudential and John Hancock.

Term Insurance for Parents and Grandparents

Older adults have distinct insurance needs and challenges:

Coverage Availability: Most insurers offer new term policies up to age 70-75, with maximum terms decreasing with age (typically limite Comparison by Age and Health Status

To illustrate how these factors affect pricing, consider these approximate annual premiums for a $500,000, 20-year term policy based on 2025 market averages:

30-Year-Old Male

• Preferred Plus Non-Smoker: $300-$350
• Standard Non-Smoker: $450-$525
• Preferred Smoker: $850-$1,000
• Standard Smoker: $1,100-$1,300

30-Year-Old Female

• Preferred Plus Non-Smoker: $250-$300
• Standard Non-Smoker: $375-$450
• Preferred Smoker: $700-$850
• Standard Smoker: $900-$1,050

40-Year-Old Male

• Preferred Plus Non-Smoker: $450-$550
• Standard Non-Smoker: $650-$800
• Preferred Smoker: $1,500-$1,800
• Standard Smoker: $2,000-$2,400

40-Year-Old Female

• Preferred Plus Non-Smoker: $375-$450
• Standard Non-Smoker: $550-$650
• Preferred Smoker: $1,200-$1,500
• Standard Smoker: $1,600-$1,900

50-Year-Old Male

• Preferred Plus Non-Smoker: $1,000-$1,200
• Standard Non-Smoker: $1,500-$1,800
• Preferred Smoker: $3,000-$3,600
• Standard Smoker: $4,000-$4,800

50-Year-Old Female

• Preferred Plus Non-Smoker: $750-$900
• Standard Non-Smoker: $1,100-$1,350
• Preferred Smoker: $2,400-$2,900
• Standard Smoker: $3,200-$3,800

For up-to-date price comparisons, tools like Policygenius allow you to compare quotes from multiple insurers based on your specific profile.