In the US, many adults under 30 guessed life insurance costs at ~10x actual prices, yet healthy buyers sometimes paid roughly a streaming subscription.
Term life was the lowest-cost option: it covered a set period, skipped cash value, and averaged ~$55 monthly for a healthy adult $500K 20-yr policy.
Price depended heavily on age, health, smoking, coverage size, and term length. Buying earlier, managing conditions, and staying tobacco-free could improve quotes.
Healthy nonsmokers could see ~$18-$32 monthly for $250K term, or ~$48-$110 for $1M, while whole life for a healthy 30-year-old ran ~$274-$305 monthly.
Term coverage was common too, with >50% of insured households holding it. Still, the cheapest policy was not the best choice if coverage fell short.
