Term insurance is for years

Term insurance increases with age. Here’s how you can save by buying early.

To understand the relationship between life insurance and age, just remember that policy is like fine wine, in both good and bad ways.

Pros: Life insurance, like wine, can calm the mind. A policy gives you comfort by helping you deal with the problem of what would happen to your family’s finances in the event of your sudden death; wine does its job by keeping you from worrying about things for a while – a pleasant but temporary fix.

Cons: Life insurance, like fine wine, gets more expensive as you get older.

Here’s a breakdown of old term insurance rates – and tips on how to find the cheapest life insurance.

How to get cheap insurance rates

The quality of life insurance is why you get a policy in the first place. But what about the price?

One of the main factors that affect the cost of life insurance is the age of the person taking the policy. As your age increases, so does the price you will pay to purchase life insurance.

Another factor that affects your life insurance rates is the type of policy you buy. Term insurance, which is what Haven Life sells, is one of the simplest and most affordable types of insurance, and often appeals to young families looking for coverage. There is also universal life insurance, term life insurance and whole life – but for the sake of this section, we will focus on term life insurance.

Examples of 20 year term life insurance for people with good health

Now that you know that the cost of life insurance can rise with age, it’s time to find out how much premiums are paid. Don’t have time to calculate how life insurance premiums increase with age? See the chart below, which shows the cost of a 20-year Haven Term policy for healthy men and women at different ages. It’s clear that buying term insurance can save you money.

Age Explanation $250,000 $500,000 $750,000 $1,000,000
20 A man $12.07 it was 18.73 $ $24.97 it was 30.54 $
A woman it was 10.82 $ it was 14.82 $ $19.10 $22.91
25 A man $12.09 it was 18.73 $ $24.97 it was 30.54 $
A woman it was 10.82 $ it was 14.86 $ $19.16 $23.03
30 A man $12.48 $19.04 it was 25.44 $ it was 30.82 $
A woman it was 10.87 $ $15.16 $19.60 it was $24.55
35 A man $13.11 it was 20.72 $ $27.95 $34.08
A woman it was 11.86 $ $17.50 $23.13 $29.03
40 A man it was 17.33 $ it was 28.42 $ $39.50 $49.15
A woman $14.99 $24.11 $33.03 it was 40.82 $
45 A man $26.03 $42.49 it was 60.61 $ $80.00
A woman $21.03 $36.45 $51.55 $66.57
50 A man $76.75 $151.00 $223.38 $296.71
A woman $54.81 $106.19 $156.15 $208.27
55 A man $116.12 $230.00 $341.87 $456.12
A woman $92.96 $181.33 $268.87 $360.96

Estimates based on rates for Haven Term eligibles in good health. Prices vary depending on age, health, number of issues and length of time. These prices do not reflect prices for subscribers in DE, FL, ND, NY and SD.

That’s why life insurance is so much cheaper when you get it at a young age. In fact, as you get older, the price you can afford to pay can double (or even more). And, as you can see, the increase in the cost of life insurance between the ages of 45 and 50 is much higher than the increase between the ages of 35 and 40.

The bottom line is that although life insurance rates vary across companies, you will pay more for life insurance as you get older. This is why life insurance is important, especially when they are young.


Let’s expand the wine comparison a bit. Although term life insurance is like fine wine – the value of the policy increases with age – you should treat it like a fine wine. Ninety-eight percent of the wine, including many high-quality items, does not deserve to be aged: it is cheap now..

Term insurance is the same. It is affordable insurance products that make sense to buy the younger you are; waiting will do you no good. (Actually, not all young people need life insurance. In short, don’t hesitate to buy coverage when you need it because it will cost you money. When do you need it? When you buy a house, get married, have a child or, at any time, when you have people in your life who depend on you financially .) You can’t stop the passage of time, but this is one way you can help reduce its impact on your wallet.

Remember that the data are estimates. Fortunately, it’s easy to apply online with Haven Life Insurance Agency and find the level you want.

Our maintenance schedule

Haven Life is a consumer life insurance company sponsored by Massachusetts Mutual Life Insurance Company (MassMutual). We hope that decisions about life insurance, your finances and your overall health can be made easier.

Our maintenance schedule

Haven Life is a consumer insurance company sponsored by Massachusetts Mutual Life Insurance Company (MassMutual). We hope that decisions about life insurance, your finances and your overall health can be made easier.

Our content is for educational purposes only. Haven Life does not endorse the companies, products, services or methods described here, but we believe they can make your life easier if they are suitable for your situation.

Haven Life is not authorized to provide tax, legal or financial advice. This information is not intended to provide, and should not be relied upon as, tax, legal, or financial advice. People are encouraged to get advice from their tax or legal advisor.

Our disclosures

Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in some states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and issued through Haven Life Insurance Agency, LLC. In NY, Haven Term is DTC-NY 1017. In CA, Haven Term is DTC-CA 042017. Haven Term Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in some jurisdictions, including NC) issued by CM Life. Insurance Company, Enfield, CT 06082. Policy form numbers and riders may vary by state and may not be available in all states. Our Agency license number in California is OK71922 and in Arkansas 100139527.

MassMutual is rated by AM Best Company as A++ (Superior; Top 15). The price is as of Aril 1, 2020 and is subject to change. MassMutual has received mixed ratings from other rating agencies.

Haven Life Plus (Plus) is the trade name for Plus passengers, which is included as part of the Haven Term plan and provides access to additional services and benefits at no cost or discount. The rider is not available in any region and may change at any time. Neither Haven Life nor MassMutual is responsible for the benefits and services available under the Plus Rider, which are offered by third party vendors (affiliates). For more information about Haven Life Plus, please visit:

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