How this estimate works
The calculator uses average annual rates for a $500,000, 20-year term life policy published by NerdWallet with data from LifeStein.com valid as of October 1, 2026. Each figure is the average of the three lowest rates for that age and gender. Non-smoker rates are for the best health class (preferred plus); smoker rates are for the preferred smoker class. For example, a healthy 40-year-old man pays about $321 a year, and a 40-year-old woman about $278.
Other answers apply ratios: coverage of $250,000 or $1 million uses the relationship between Policygenius 20-year averages for 40-year-olds; term length and health class use NerdWallet's tables for 40-year-old non-smokers. As a cross-check, NerdWallet cites a Policygenius average of $26 a month for a 40-year-old buying a 20-year, $500,000 policy, the most common term and amount sold.
What is included
- Level-premium term life insurance with a medical exam
- Ages 20 to 70 for non-smokers and 20 to 65 or older for smokers
- Terms of 10, 20 or 30 years and coverage from $250,000 to $1 million
Limitations
Life insurance is priced individually after underwriting: health history, medications, family history, driving record, occupation and hobbies all matter. Ratios measured at age 40 may differ at other ages, and no-exam policies usually cost more. Whole life and other permanent policies cost far more and are not covered here.
This is an indicative estimate, not an offer of insurance. Policies are issued by licensed insurers and placed through licensed producers in your state. Learn about life insurance or request a quote.