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30-Year Term Life Insurance: Policy Options & Costs

August 14, 2023
Our goal is to educate and advise on life insurance options, so you can feel confident in making the right choice, whether that’s through Quotacy or somewhere else. To ensure we provide accurate and trustworthy information, our writers follow strict editorial standards.

The primary purpose of life insurance is to replace a provider’s income. A 30-year term life insurance policy is a great option to cover the needs of your loved ones. It provides affordable protection during crucial years.

In this guide, you’ll learn when a 30-year term policy makes sense, how much it costs, and how to buy it.

What Is 30-Year Term Life Insurance?

Term life insurance offers coverage for a specific period, called a term. Term length options range from 10-40 years, but 30 years is among the most popular.

The coverage amount, also called the “face amount, ” can start as low as $50,000 and reach the millions. This is the sum paid to your designated beneficiaries if you pass away during the 30-year term. It’s essentially a safety net, helping to support your loved ones financially.

Life insurance needs differ from person to person, and term insurance offers a variety of options to tailor your coverage to your specific requirements.

How does a 30-year term policy work?

  • Once purchased, the rate is fixed for the entire term length.
  • As long as premiums are paid, coverage lasts 30 years.
  • If the insured passes away during those years, the beneficiaries receive tax-free death benefit proceeds.
  • The coverage expires if the insured outlives the policy.

Who Needs a 30-Year Policy?

A 30-year term policy is ideal for a broad range of individuals, including:

  • Young families
  • Homeowners
  • Business owners
  • Parents supporting adult children

Learn more about who needs life insurance. Do you fall into more than one group?

Pros and Cons of a 30-Year Term Policy

Like any financial product, a 30-year term policy has pros and cons. Be sure to consider these key points to make a confident, informed decision when buying a policy best for you.


  • Affordability
  • Fixed rates
  • Simplicity
  • Extendable
  • Customizable


  • Limited coverage
  • No cash value
  • Higher renewal costs

Unsure if you need term or permanent? Learn the differences between term and permanent life insurance to help guide your decision.

30-Year Term Life Insurance Cost

Although life insurance costs differ for each individual, the 30-year term life insurance rates are generally considered reasonable, especially given the stability of fixed premiums for three decades.

Pricing depends on many factors, one being the face amount you choose. Term insurance coverage (face) amounts start as low as $50,000 and range into the millions.

The higher the coverage amount, the higher the price. Consider the table below. You can see how the coverage amount impacts the monthly rate.

Cost of 30-Year Term Policy for a Healthy Non-Smoker Aged 40
Coverage AmountMonthly Premium
$50,000Male: $15.08 | Female: $13.33
$100,000Male: $17.12 | Female: $15.01
$250,000Male: $28.01 | Female: $22.71
$500,000Male: $49.24 | Female: $39.15
$750,000Male: $70.04 | Female: $54.89
$1,000,000Male: $91.48 | Female: $71.96

We recommend purchasing life insurance as soon as you realize you need it because age significantly impacts your rate. Consider the table below.

Cost of a $250,000 30-Year Term Policy for a Healthy Non-Smoker
AgeMonthly Premium
30Male: $17.90 | Female: $15.44
35Male: $20.82 | Female: $17.91
40Male: $28.01 | Female: $22.71
45Male: $42.22 | Female: $33.13
50Male: $67.11 | Female: $51.52
55Male: $117.78 | Female: $90.56
60not available

What Impacts Rates?

Life insurance pricing is determined by underwriters, who assess each applicant’s risk factors. 

These risk factors help establish the likelihood that a death benefits claim will be made. 

The following factors can impact life insurance costs:

  • Age
  • Gender
  • Health
  • Hobbies
  • Family health history
  • Occupation

Not all insurance companies assess these risks the same. Some insurers are more lenient with certain factors than others. 

Applying to the right insurer can make a big difference in your price. Work with a broker, like Quotacy, who can comparison shop across multiple companies to find you the best rate.

See what you’d pay for life insurance

Comparison shop prices on custom coverage amounts from the nation’s top carriers with Quotacy.

How to Buy a 30-Year Term Life Insurance Policy

A 30-year term policy is a popular choice. Life insurance isn’t a routine purchase, so it’s understandable if you need clarification on how the process works.

You should feel confident in your choice when you buy life insurance. Here is a step-by-step breakdown of what to expect:

  1. Assess your needs: First, understand how much coverage you need. This amount should cover any debts, ongoing expenses, and future needs of your dependents if you pass away. 
  2. Get quotes: Compare quotes from multiple insurance providers with our online life insurance quoting tool. You can get instant real-time pricing without giving away any contact information.
  3. Apply for coverage: After you find a policy you like, take a few minutes to complete the online application. Once submitted, your Quotacy agent reviews your application to double-check that your chosen insurer will offer the best rate.
  4. Undergo a medical exam: Most insurers will require a medical exam as part of the underwriting process. This exam will check your overall health and can affect your insurance rates.
  5. Wait for approval: Once you’ve submitted your application and completed the medical exam, the insurance company will review your application. On average, this process takes 4-6 weeks.
  6. Review and accept the policy: If approved, you’ll receive a policy offer from the insurer. Review the terms carefully. If you’re satisfied, accept it. Otherwise, you can walk away or work with your agent to explore alternative options.

30-Year Term Policy FAQs

Quotacy aims to make life insurance easier to understand. To help with that, we’ve compiled answers to frequently asked questions.

What Happens When 30-Year Term Life Insurance Ends?

When the term expires, your coverage ends. However, many term policies offer renewal and conversion options to stay insured.

  • The policy renewal option allows you to extend the same term coverage another year without going through underwriting again. Rates will be higher.
  • The policy conversion option lets you change your term coverage into permanent coverage without going through underwriting again. Rates will be higher.

Is a 20- or 30-Year Policy Better?

A 30-year policy offers longer coverage, but if a 20-year term is what you can afford, then go with that. Having some protection is better for your family, rather than having no coverage at all.

Do l Need a Medical Exam for 30-Year Term Life Insurance?

Whether you need a medical exam primarily depends on the insurance company, the specific product you’re applying for, and your age and health status.

Some insurers offer “no-exam” life insurance policies. Instead of a physical, companies use your medical records, prescription history, and answers to health questions to evaluate your risk level.

No-exam policies may come with higher premiums, given the insurer takes on more risk without a complete picture of your health.

Compare 30-Year Term Life Insurance Quotes Today

Unsure if 30 years is right for you? Run as many quotes as you like without entering any contact information. If you’re interested in permanent life insurance, you can even see how much a guaranteed universal life insurance policy would cost. Simply choose “Forever” when the tool asks what length of coverage you’re looking for.

When you’re ready to apply, completing the online application only takes a few minutes. There is no obligation to purchase after applying.

Here at Quotacy, we consider ourselves life insurance matchmakers. Our expertise lies in looking at an applicant’s unique profile and matching them to the insurance company that is most likely to provide them with the most favorable offer.

Start by getting a free and instant life insurance quote.

Note: Life insurance quotes used in this article are accurate as of August 14, 2023. These are only estimates and your life insurance costs may be higher or lower.


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