The average cost of insurance can vary depending on several factors, such as age, health, coverage amount, and policy type. Generally, term insurance is less expensive than permanent life insurance. According to a study by Policygenius, the average cost of a 20-year term insurance policy with a $500,000 death benefit is around $30 per month for a healthy 30-year-old. However, rates can increase significantly for older individuals or those with underlying health conditions. It's always best to shop around and compare rates from different insurance providers to find the best deal.