How Much Does 1 Million Dollar Life Insurance Cost? 
The cost of one million dollars worth of life insurance depends on the length of coverage : term life insurance from 5-30 years or permanent life insurance to age 121 . But it also depends on your gender , age , smoking status , health history , current medical condition and whether the coverage is one one life or two . A million dollars of 20 year term life insurance on a male non smoker age 62 is around $ 10,000 annually . 