Term Life Insurance Calculator

Estimate your term life insurance monthly premium based on age, health, gender, smoker status, and coverage amount. See total premiums paid and your coverage-to-premium ratio.

Age

Gender

Health Status

Coverage Amount ($)

Term Length

Smoker / Tobacco User

How Term Premiums Are Calculated

Monthly Premium = Base Rate × Coverage Factor × Health Modifier × Gender Factor × Smoker Factor

Rates are derived from actuarial tables and increase with age, longer terms, and risk factors. Smokers typically pay 2–4x more than non-smokers. Women generally receive lower rates than men due to longer life expectancy.

How to Use This Calculator

1

Enter Your Age & Gender

Younger applicants receive lower rates. Females typically pay 10–20% less than males of the same age and health.
2

Select Health Status

Excellent (preferred plus) rates are for those in top health. Good covers standard plus. Fair is standard rate class.
3

Choose Coverage & Term

Higher coverage and longer terms cost more. Match the term to your largest financial obligation (e.g. mortgage).
4

Indicate Smoker Status

Tobacco use in the past 12 months usually qualifies as smoker. Quitting for 1+ years can reduce premiums dramatically.

'When is the best time to buy term insurance?', 'answer' => 'The younger and healthier you are, the lower your premiums. Ideal times to buy: when you get married, when you have children, when you take on a mortgage, or whenever someone becomes financially dependent on you. Premiums increase significantly after age 40–50, so acting early can save thousands over a policy lifetime.'], ['question' => 'Can I get term insurance if I am a smoker?', 'answer' => 'Yes, but expect to pay 2–4x more than a non-smoker. If you quit for at least 12 months, you can apply for non-smoker rates. Many insurers allow you to re-rate your policy after quitting, which can dramatically reduce your premiums. The savings from quitting and re-rating can be substantial.'], ]" />