 is a tremendous price war in the term life industry rates have dropped dramatically in the past few years for example a man aged 45 non-smoker can get 1 million dollars of coverage for 75 dollars per month level rate for 10 years or a man age 50 non-smoker can obtain 500 000 of coverage for a monthly premium of 110 level rate for 20 years that's right guaranteed level rate for 20 years