$750,000 Life Insurance — Rates and Coverage Guide

Monthly cost of $750K life insurance by age

For a healthy non-smoker purchasing a 20-year term policy, $750,000 of coverage costs approximately: age 25: $18–$28/month, age 30: $20–$32/month, age 35: $28–$45/month, age 40: $45–$72/month, age 50: $95–$155/month.

These rates represent a natural middle ground — roughly 50% more expensive than $500K but 25–30% cheaper than $1M. For many families, $750K provides a better balance of coverage and cost than either extreme.

$750K vs $500K vs $1M — which amount is right?

Choose $500K if: your mortgage is under $400K, you have no children or children are nearly independent, and your savings are substantial.

Choose $750K if: your mortgage is $400K–$650K, you have one or two dependent children, and you want mortgage payoff plus 2–3 years of income replacement.

Choose $1M if: your mortgage exceeds $650K, you have multiple young children, your household depends heavily on one income, or you live in a high-cost city like Toronto or Vancouver.

A $750K policy costs only $8–$15/month more than $500K but provides $250,000 more protection. For most families, the incremental cost is worth the added security.

Strategies for $750K coverage

Laddering: combine a $500K 20-year term with a $250K 10-year term. Total coverage is $750K during the first 10 years (when the mortgage is highest), then drops to $500K for the remaining 10 years as the mortgage decreases. This saves 10–15% compared to a single $750K 20-year policy.

Compare aggressively: at $750K, the annual premium spread between cheapest and most expensive insurer can exceed $400. Use an online comparison tool to see all options simultaneously.