Thirty years can see a lot of changes in the world — and for your life. Between promotions, children, grandchildren and retirement, there could be any number of planned and unexpected shifts in how you think about money.
Life insurance can provide your family with a financial safety net should you pass away prematurely. If you’re young and in good health, you could lock in level premiums and strong protection with a 30-year term.
A 30-year policy is a type of term life insurance. It offers coverage for 30 years, and the premiums stay the same for the life of the policy. If you die during the term, your beneficiaries will receive a guaranteed death benefit. But if you outlive the term, your beneficiaries won’t get anything.
If you outlive your 30-year policy, you have a few options:
The cost of your insurance policy depends on a range of factors, like your age, gender, health, occupation, hobbies and lifestyle. To give you an idea of what your coverage could cost, we break down averages by gender and smoking status.
| Age | Male | Female |
|---|---|---|
| 30 | $32.30 – $86.54 | $27.20 – $69.65 |
| 40 | $52.46 – $128.19 | $42.50 – $96.69 |
| 45 | $81.27 – $184.41 | $63.32 – $157.94 |
| 50 | $125.13 – $286.78 | $97.18 – $227.94 |
| Age | Male | Female |
|---|---|---|
| 30 | $115.67 – $207.38 | $85.14 – $162.40 |
| 40 | $213.77 – $379.31 | $149.33 – $277.38 |
| 45 | $345.86 – $520.86 | $228.07 – $381.50 |
| 50 | $524.02 – $785.31 | $347.78 – $605.50 |
*Sample rates provided by Quotacy in 2019, and averaged from a subset of 12 life insurance companies.
Learn more about life insurance for smokers
The purchasing process is the same across most life insurance policies. Follow these steps:
It’s a lengthy term, so your age, health, wealth, family and debt obligations will affect whether you decide to buy a 30-year policy. When considering a policy with a 30-year term, think about:
Life insurance providers use mortality or actuarial tables to determine the probability of death by gender. These tables are based on averages of mortality among specific population, gender and age groups. Of course, your likelihood of dying depends on your overall health, risks and medical history.
How likely am I to die in the next 30 years?
| Age | Male | Female |
|---|---|---|
| 30 | 11.73% | 7.32% |
| 31 | 12.60% | 7.88% |
| 32 | 13.53% | 8.47% |
| 33 | 14.53% | 9.11% |
| 34 | 15.58% | 9.80% |
| 35 | 16.69% | 10.54% |
| 36 | 17.87% | 11.33% |
| 37 | 19.12% | 12.20% |
| 38 | 20.46% | 13.13% |
| 39 | 21.88% | 14.15% |
| 40 | 23.40% | 15.26% |
| 41 | 25.03% | 16.47% |
| 42 | 26.78% | 17.80% |
| 43 | 28.65% | 19.24% |
| 44 | 30.64% | 20.79% |
| 45 | 32.74% | 22.47% |
| 46 | 34.98% | 24.27% |
| 47 | 37.36% | 26.24% |
| 48 | 39.88% | 28.36% |
| 49 | 42.55% | 30.66% |
| 50 | 45.35% | 33.13% |
Life insurance can provide the security your loved ones need when you’re no longer around the protect them. A 30-year policy is a big commitment — and it often comes with higher premiums than smaller terms.
But you’ll likely never be as healthy as you are today, and you can rest easy knowing that your premiums are locked in over the full term to cover whatever life throws your way. Take the time to compare life insurance companies to find the right 30-year policy for you and your family.
What are other common life insurance terms?
Typical lengths are 10, 15, 20, 25, 30 and 35 years.
What does it mean when a term policy converts?
Some term life policies can be changed into whole life policies at the end of your term. Generally, your premiums are based on the rating you were assigned when you started the term, rather than your health at the time of the conversion.
How do I get my money back if I outlive the policy?
You typically can’t get money back for living past your policy. But you might come across a return-of-premium policy. On these policies, your premiums are refunded if you outlive the term.
But rates are typically higher than those for a more typical term life policy. And you’re refunded only your premiums, less any fees.
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