If you are in your forties or fifties, or even sixties, a 20 year term policy may be your best option. The prices will still be very affordable, and you will get a substantial level term of coverage.
To see how much such a policy will cost you, click here!
As an example, if you are 50 years old man, non-smoker, in good health, you can get a 20 year level term life policy in the amount of $500,000 for only $150 per month. If you are a smoker, that same policy will cost you around 3 times more ($350 to $450 per month). As you can see being a smoker is a high-risk activity in the eyes of the insurance companies.
Another example of the costs of a policy for a person in their fifties: A 55 year old in good health, non-smoker, can get a $200,000 life insurance policy for 20 years for as little as $120 per month.