 News, weather, and sports. NewsRadio KOTA. Are you paying too much for term life insurance? There's a tremendous price war among the major term life companies. Rates have dropped dramatically in the past few years. For example, a man age 45 non-tobacco user, $1 million of coverage, $75 per month level rate for the next 10 years. Or a man age 50 non-tobacco can obtain $500,000 of coverage for a monthly premium of only $110 per month, guaranteed not to change for the next 20 years.