It would depend on your Health and if you have ever used tobacco products.
A 70 year old in perfect health who has never used tobacco could currently get a $200k 20 year level term policy for as low as $4111 per year. But this would be a "best case scenario" figure. But if they are in poor health it could be double that or even more. And if they currently use (or have recently used) tobacco it would double that best case scenario figure as well.
Most likely for a $200k 20 year level term it would be between $4500-$7000 depending on health, and that is for a non-smoker.
But the amount of Death Benefit and the type of policy will ultimately dictate premiums, along with health & tobacco use.
A million dollar policy for a 70 year old preferred non-smoker will be around $9785 10 year term, $14510 15 year term, $21600 for 20 year term, $23828 Guaranteed UL. A million dollar policy for a 70 year old standard non-smoker will be around $12825 10 year term, $22110 15 year term, $25930 for 20 year term, $32840 Guaranteed UL.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The monthly premium for $100,000 of life insurance on a male non-smoker would be approximately $165 for 10 yr. Term Insurance, and $338 for whole life insurance. Even at that age there may be preferred rates and other options. Medical conditions often play a major role in pricing policies for people above age 60.
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A 70 year old in perfect health who has never used tobacco could currently get a $200k 20 year level term policy for as low as $4111 per year. But this would be a "best case scenario" figure. But if they are in poor health it could be double that or even more. And if they currently use (or have recently used) tobacco it would double that best case scenario figure as well.
Most likely for a $200k 20 year level term it would be between $4500-$7000 depending on health, and that is for a non-smoker.
But the amount of Death Benefit and the type of policy will ultimately dictate premiums, along with health & tobacco use.