The average cost of a $150K term policy cost Here's a look at sample quotes for men & women at different ages & prices for a 20-year term policy Some of these rates may be lower then your phone bill These quotes are based on average health. Your actual quote may vary depending on your health. Term life insurance can be a great option for many people due to several key reasons. Affordable coverage to protect their family, loved ones for a specific period, or paying off a mortgage. -Dev