“One million dollars…..baawaahahahahah!”
One million dollars...
I can’t help but chuckle when I think of Dr. Evil saying that in the classic series Austin Powers.
For many people, one million dollars sounds like a lot of money – and it is!
But a common misconception is that one million dollars of term life insurance is very expense.
That couldn’t be further from the truth.
To demonstrate, I attained quotes from the top insurance carriers using my new handy dandy free life insurance quoter.
Yes, I realize you could have entered the info yourself and found it on your own. I thought I would be a nice guy and find out for you. 
About The Term Life Quotes
As you’ll notice, each table has a wide array of information. Knowing that everybody is in a different situation, I wanted to make sure that I offered quotes for almost situation. I’ve included quotes for 30 year term, 20 year term, and 10 year term. If you’re a tobacco user, I’ve also included some quotes on life insurance for smokers.
30 Year Term Life Quote One Million Dollars
For those that think that a million dollar term policy is expensive, you’ll quickly notice that for a 25 year old male in good health only costs $645 per year with a 35 year old costing $795. On a monthly basis that’s almost next to nothing!
| SEX | AGE | 30YR TERM POLICY | COMPANY 1 | COMPANY 2 | COMPANY 3 |
|---|---|---|---|---|---|
| MALE | 25 | $1,000,000 FACE AMOUNT | BANNER LIFE $645 | NORTH AMERICAN CO. $645 | TRANSAMERICA $650 |
| MALE | 35 | $1,000,000 FACE AMOUNT | BANNER LIFE $795 | GENWORTH FINANCIAL $804 | ING $808 |
| MALE | 45 | $1,000,000 FACE AMOUNT | BANNER LIFE $1,885 | GENWORTH FINANCIAL $1891 | AMERICAN GENERAL $1,894 |
| FEMALE | 25 | $1,000,000 FACE AMOUNT | AMERICAN GENERAL $514 | NORTH AMERICA CO. $515 | SBLI $520 |
| FEMALE | 35 | $1,000,000 FACE AMOUNT | SBLI $640 | AMERICAN GENERAL $694 | GENWORTH FINANCIAL $695 |
| FEMALE | 45 | $1,000,000 FACE AMOUNT | SBLI $1,450 | BANNER LIFE $1,455 | AMERICAN GENERAL $1,456 |
20 Year Term Life Quote One Million Dollars
| SEX | AGE | 20YR TERM POLICY | COMPANY 1 | COMPANY 2 | COMPANY 3 |
|---|---|---|---|---|---|
| MALE | 25 | $1,000,000 FACE AMOUNT | AMERICAN GENERAL $414 | BANNER LIFE $425 | SBLI $440 |
| MALE | 35 | $1,000,000 FACE AMOUNT | SBLI $450 | BANNER LIFE $455 | NOTH AMERICA CO. $485 |
| MALE | 45 | $1,000,000 FACE AMOUNT | BANNER LIFE $1,155 | SBLI $1,160 | GENWORTH FINANCIAL $1,173 |
| FEMALE | 25 | $1,000,000 FACE AMOUNT | AMERICAN GENERAL $354 | SBLI $360 | BANNER LIFE $365 |
| FEMALE | 35 | $1,000,000 FACE AMOUNT | SBLI $390 | AMERICAN GENERAL $404 | BANNER LIFE $405 |
| FEMALE | 45 | $1,000,000 FACE AMOUNT | SBLI $880 | BANNER LIFE $895 | TRANSAMERICA $930 |
10 Year Term Life Quote One Million Dollars
| SEX | AGE | 10YR TERM POLICY | COMPANY 1 | COMPANY 2 | COMPANY 3 |
|---|---|---|---|---|---|
| MALE | 25 | $1,000,000 FACE AMOUNT | SBLI $260 | BANNER LIFE $285 | MINNESOTA LIFE $290 |
| MALE | 35 | $1,000,000 FACE AMOUNT | SBLI $270 | BANNER LIFE $295 | MINNESOTA LIFE $300 |
| MALE | 45 | $1,000,000 FACE AMOUNT | BANNER LIFE $585 | TRANSAMERICA $630 | GENWORTH FINANCIAL $637 |
| FEMALE | 25 | $1,000,000 FACE AMOUNT | SBLI $230 | BANNER LIFE $245 | ING $248 |
| FEMALE | 35 | $1,000,000 FACE AMOUNT | SBLI $240 | BANNER LIFE $255 | ING $258 |
| FEMALE | 45 | $1,000,000 FACE AMOUNT | SBLI $520 | BANNER LIFE $525 | ING $528 |
Smoker Term Life Quote One Million Dollars
For all you smokers out there – beware! The cost of of your life insurance balloons and you’ll see here. If you’re considering kicking the habit, now is as good time as any.
| SEX | AGE | 30 YR TERM POLICY | COMPANY 1 | COMPANY 2 | COMPANY 3 |
|---|---|---|---|---|---|
| MALE | 35 | $1,000,000 FACE AMOUNT | North American Co. $3595 | SBLI $3630 | MetLife $3639 |
| FEMALE | 35 | $1,000,000 FACE AMOUNT | North American Co. $2555 | Transamerica $2720 | Prudential $2765 |
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{ 1 comment… read it below or add one }
If people want to save in the long term, quieting smoking really is a great way to do it.