How much does a $1,000,000 liability insurance policy cost?

Written by Admin | Last Updated: July 2026

The monthly premium cost for a 1,000,000 US dollar life insurance policy is determined by the policy type, age, gender, medical history, and lifestyle risk factors of the insured individual. For a healthy, non-smoking 40-year-old applicant, a 20-year term life insurance policy providing 1 million dollars in coverage averages roughly 85 to 110 US dollars per month. In contrast, for older applicants aged 55 or those with pre-existing medical conditions or tobacco habits, monthly premium costs for the same million-dollar policy escalate rapidly to several hundred or even over a thousand dollars per month.

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