How much is a $500,000 life insurance policy a month?

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• 

  Anna Patrick

  Participant

  December 18, 2025 at 8:19 pm

  Hi Sophia hope you are doing well, here is your answer.

  The cost of a $500,000 life insurance policy really depends on a few personal factors, but I’ll break it down in a way that’s easy to understand.

  For most people, the cheapest option is term life insurance, which only covers you for a specific period (like 10, 20, or 30 years). Here’s a rough idea of what you might pay per month:

  • 20s (healthy, non-smoker): often around $25–$40/month
  • 30s (healthy, non-smoker): around $30–$50/month
  • 40s (healthy, non-smoker): around $50–$80/month
  • 50s (healthy, non-smoker): usually higher, often $80–$150+/month

  These are just examples — the actual price varies a lot based on:

  • Your age
  • Your health and medical history
  • Whether you use tobacco
  • The length of the term (10 vs. 20 vs. 30 years)
  • The insurance company you choose

  Whole life insurance or other permanent policies will cost significantly more (sometimes a few hundred dollars per month) because they last your whole life and include a savings component.

  A good rule of thumb: if you’re young and healthy, $500,000 in term coverage is usually surprisingly affordable. Shopping around and comparing quotes can make a big difference, too.