The Cheapest Life Insurance Companies of 2022

Life insurance can be a good investment, as it provides financial protection for your loved ones after you die. However, it is essential to shop around and find the best life insurance rates before purchasing a policy.

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Last Updated: 10/4/2022
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The cost of life insurance may vary, and monthly premiums can be as high as $365 or as low as $18.

Life insurance will help protect your loved ones from financial disaster when you are no longer around. Depending on the type of policy you choose, you can get insurance coverage for a certain number of years or your whole life.

A life insurance policy is an agreement between an individual and an insurance company. According to the terms of the agreement, the individual makes premium payments in return for a death benefit the provider will pay to the policy owner's beneficiaries.

Various factors affect life insurance rates, including age, gender, smoking status, overall health, height, weight, lifestyle habits, family medical history, amount of coverage and how long the policy will last. The cost of life insurance may increase due to risk factors or the overall coverage amount.

Insurance costs vary from person to person. It is possible to find cheap life insurance that will not break the bank, which is especially important for individuals with a limited or fixed income. Similar to other insurance or financial products, life insurance companies use differing rate calculations, with some offering cheaper premiums than others.

You can find affordable life insurance with some research. Regardless of your age or health status, life insurance is worth considering, as it allows you to protect the future of your loved ones.

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Key Takeaways

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Monthly premiums for life insurance range from as low as $18 to as high as $365.

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Life insurance premiums are based on factors like age, gender, smoking status, overall health, height, weight, lifestyle habits, family medical history, amount of coverage and policy length.

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Term life insurance is usually the cheapest form of life insurance, but rates vary from person to person.

The Cheapest Life Insurance Companies of 2022

When looking for low-cost life insurance, it is crucial to understand the factors affecting premium prices. Among these are age, overall health and smoking status. The company that offers you the cheapest life insurance option will depend on your circumstances. Transamerica typically provides the most affordable life insurance for smokers and across all age groups.

Monthly Quotes From Companies With the Cheapest Term Life Insurance for 2022

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  • Cheapest For...
    Insurer
    Monthly Rate
  • 30-Year-Olds
    Transamerica
    $18.28
  • 40-Year-Olds
    Transamerica
    $27.09
  • 50-Year-Olds
    Transamerica
    $64.93
  • 60-Year-Olds
    Transamerica
    $199.95
  • 70-Year-Olds
    State Farm
    $365.39
  • Smokers
    Transamerica
    $62.57
  • Low-Health Individuals
    Mutual of Omaha
    $22.15
  • High BMI Individuals
    Nationwide
    $21.96
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MoneyGeek Top Pick
Transamerica
  • MoneyGeek Score: 80/100
  • J.D. Power Rating: 736.4/1000
  • AM Best Rating: A
Monthly Quotes From Companies With the Cheapest Permanent Coverage for 2022

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  • Cheapest
    Insurer
  • Whole Life Insurance
    Transamerica
  • Universal Life Insurance
    Transamerica
  • Guaranteed Acceptance Insurance (Whole Life Without Medical Exam)
    Nationwide
  • Simplified Issue Insurance
    Nationwide
  • Final Expense Insurance
    Transamerica
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MoneyGeek Top Pick
Nationwide
  • MoneyGeek Score: 88.6/100
  • J.D. Power Rating: 785.5/1000
  • AM Best Rating: A+

Companies With the Cheapest Term Life Insurance for 2022

Term life insurance refers to policies that provide coverage for a specified period.

Unlike whole life, term life insurance is less complicated and more affordable because it is straightforward insurance that lasts for a limited number of years. Generally, term life is the cheapest form of life insurance.

The least expensive term life insurance will vary based on several factors, such as age, gender, occupation, location, lifestyle, overall health, smoking status and policy term.

Companies With the Cheapest Term Life Insurance by Age for 2022

The least expensive term life insurance varies depending on your age. For instance, the cheapest option, based on a coverage amount of $500,000, for a 20-year term for a 30-year-old individual is Transamerica, at $237 per month. The same company has the cheapest average rate for 40-year-olds at $360 each month. Meanwhile, State Farm offers the most affordable premium for 50-year-olds at an average rate of $1,079 monthly.

Life insurance tends to cost more based on your age when you sign up for it because insurance companies consider how long you are likely to live after the issuance of the policy or the length of time it will be in force. Typically, the cost of life insurance increases per decade of life.

For instance, the average monthly rate increase for a 40-year-old is 31.10% for a 10-year term, 52.09% for a 20-year term and 63.76% for a 30-year term. Life insurance for seniors tends to be the most expensive, with Transamerica offering the cheapest for 60-year-olds and State Farm having the least expensive term life insurance for 70- and 80-year-olds.

Monthly Quotes for Cheapest Term Life Providers by Age for 2022

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  • Age
    Cheapest Insurer
    10-Year Term
    15-Year Term
    20 Year Term
    30 Year Term
  • 30-Year-Olds
    Transamerica
    $12.79
    $14.73
    $236.94
    $32.43
  • 40-Year-Olds
    Transamerica
    $16.77
    $22.36
    $360.36
    $53.11
  • 50-Year-Olds
    State Farm
    $59.15
    Not offered
    $1,079.44
    Not offered
  • 60-Year-Olds
    Transamerica
    $126.53
    $162.29
    $2,766.20
    Not offered
  • 70-Year-Olds
    State Farm
    $415.63
    Not offered
    Not offered
    Not offered
  • 80-Year-Olds
    State Farm
    $1,039.08
    Not offered
    Not offered
    Not offered

The quotes above are based on a policy with $500k coverage.

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MoneyGeek Top Pick
State Farm
  • MoneyGeek Score: 97.4/100
  • J.D. Power Rating: 820.5/1000
  • AM Best Rating: A++

Companies With the Cheapest Term Life Insurance by State for 2022

Where you live can affect the cost of your life insurance policy. Rates vary by state, and different companies take the lead in offering the best premiums in various locations.

In most states, Mass Mutual is the cheapest life insurance company and boasts the most affordable rates in 33 states. Nationwide comes in second, offering the most affordable life insurance in nine states. Transamerica has the cheapest options in six states and Mutual of Omaha in two states.

Monthly Quotes for the Cheapest Term Life Insurance Providers by State for 2022

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  • State
    Average Coverage Needed
    Cheapest Insurer
    Monthly Rate
  • Alabama
    $592,000.00
    Mass Mutual
    $14.96
  • Alaska
    $860,000.00
    Mass Mutual
    $18.76
  • Arizona
    $708,000.00
    Mass Mutual
    $17.06
  • Arkansas
    $576,000.00
    Mass Mutual
    $14.71
  • California
    $1,130,000.00
    Transamerica
    $18.07
  • Colorado
    $919,000.00
    Transamerica
    $18.37
  • Connecticut
    $975,000.00
    Transamerica
    $19.48
  • Delaware
    $740,000.00
    Mass Mutual
    $17.47
  • Florida
    $736,000.00
    Transamerica
    $16.53
  • Georgia
    $680,000.00
    Mass Mutual
    $16.63
  • Hawaii
    $1,009,000.00
    Mass Mutual
    $20.04
  • Idaho
    $667,000.00
    Transamerica
    $15.15
  • Illinois
    $769,000.00
    Nationwide
    $17.72
  • Indiana
    $597,000.00
    Mass Mutual
    $14.93
  • Iowa
    $644,000.00
    Mass Mutual
    $15.43
  • Kansas
    $661,000.00
    Mass Mutual
    $15.61
  • Kentucky
    $566,000.00
    Mass Mutual
    $14.68
  • Louisiana
    $632,000.00
    Mass Mutual
    $15.30
  • Maine
    $645,000.00
    Mass Mutual
    $17.81
  • Maryland
    $926,000.00
    Mass Mutual
    $18.52
  • Massachusetts
    $1,030,000.00
    Nationwide
    $20.22
  • Michigan
    $628,000.00
    Mass Mutual
    $16.20
  • Minnesota
    $763,000.00
    Mass Mutual
    $17.67
  • Mississippi
    $519,000.00
    Mass Mutual
    $14.11
  • Missouri
    $625,000.00
    Mass Mutual
    $15.31
  • Montana
    $710,000.00
    Mass Mutual
    $17.76
  • Nebraska
    $710,000.00
    Nationwide
    $17.24
  • Nevada
    $788,000.00
    Mass Mutual
    $17.95
  • New Hampshire
    $808,000.00
    Nationwide
    $17.40
  • New Jersey
    $965,000.00
    Nationwide
    $19.99
  • New Mexico
    $612,000.00
    Mass Mutual
    $16.77
  • New York
    $966,000.00
    Mutual of Omaha
    $20.93
  • North Carolina
    $649,000.00
    Mass Mutual
    $16.38
  • North Dakota
    $727,000.00
    Mass Mutual
    $16.30
  • Ohio
    $614,000.00
    Mass Mutual
    $15.19
  • Oklahoma
    $602,000.00
    Mass Mutual
    $14.98
  • Oregon
    $809,000.00
    Mass Mutual
    $18.30
  • Pennsylvania
    $718,000.00
    Nationwide
    $17.15
  • Rhode Island
    $772,000.00
    Nationwide
    $17.79
  • South Carolina
    $628,000.00
    Mass Mutual
    $15.40
  • South Dakota
    $696,000.00
    Mass Mutual
    $15.98
  • Tennessee
    $652,000.00
    Mass Mutual
    $15.60
  • Texas
    $719,000.00
    Mass Mutual
    $16.22
  • Utah
    $764,000.00
    Mass Mutual
    $17.45
  • Vermont
    $697,000.00
    Transamerica
    $18.13
  • Virginia
    $866,000.00
    Nationwide
    $18.68
  • Washington
    $965,000.00
    Nationwide
    $19.89
  • West Virginia
    $530,000.00
    Mutual of Omaha
    $15.95
  • Wisconsin
    $660,000.00
    Mass Mutual
    $15.75
  • Wyoming
    $793,000.00
    Mass Mutual
    $18.01

The quotes above are based on a policy with a 20 year term length and an average amount of coverage needed per state, based on per capita income for a 30-year-old individual.

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MoneyGeek Top Pick
MassMutual
  • MoneyGeek Score: 84.5/100
  • J.D. Power Rating: 758.1/1000
  • AM Best Rating: A++

Companies With the Cheapest Term Life Insurance by Coverage Amount for 2022

More coverage provides better protection but leads to higher premiums. When calculating the coverage you need, the safest option is to multiply your annual salary by 10–12 times. MoneyGeek recommends getting $500,000 coverage, which is 10 times the annual average wage in the U.S..

The most affordable company will also vary depending on the coverage. Transamerica is the cheapest company for 30-, 40-, 50- and 60-year-olds looking for $250,000, $500,000, and $1 million in coverage. Meanwhile, Progressive has the most inexpensive term life insurance for 70-year-olds across all coverage levels.

Monthly Quotes for the Cheapest Term Life Providers by Coverage Amount for 2022

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  • Age
    Cheapest Insurer
    $250k Coverage
    $500k Coverage
    $1M Coverage
  • 30
    Transamerica
    $12.15
    $18.28
    $28.81
  • 40
    Transamerica
    $16.56
    $27.09
    $46.44
  • 50
    Transamerica
    $36.34
    $64.93
    $116.96
  • 60
    Transamerica
    $105.46
    $199.95
    $386.14
  • 70
    Progressive
    $412.96
    $1,174.55
    $2,303.51

The quotes above are based on a policy with a 20-year term length.

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MoneyGeek Top Pick
Transamerica
  • MoneyGeek Score: 80/100
  • J.D. Power Rating: 736.4/1000
  • AM Best Rating: A

Cheapest Term Life Insurance Providers for Smokers for 2022

Insurance companies view smokers as high-risk individuals because they are more prone to severe illness and can have a shorter lifespan than non-smokers. These health effects result in higher premium rates on life insurance for for people who smoke. The difference in insurance rates between a smoker and a non-smoker can range from 185.71% to 454.62%.

Transamerica offers the lowest average monthly rate for smokers at $63, followed by Mass Mutual at $75 and State Farm at $78. Based on average rates, the most expensive option is Nationwide, at $118 per month.

Monthly Quotes for Cheapest Term Life Insurance Providers for Smokers for 2022

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  • Insurer
    Monthly Rate
  • 1.
    Transamerica
    $62.57
  • 2.
    Mass Mutual
    $75.27
  • 3.
    State Farm
    $77.64
  • 4.
    Mutual of Omaha
    $87.30
  • 5.
    AAA
    $88.00
  • 6.
    Progressive
    $91.36
  • 7.
    Prudential
    $101.88
  • 8.
    Nationwide
    $117.69

The quotes above are based on a policy with $500k coverage and a 20-year term for a 30-year-old individual who smokes.

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MoneyGeek Top Pick
Transamerica
  • MoneyGeek Score: 80/100
  • J.D. Power Rating: 736.4/1000
  • AM Best Rating: A

Cheapest Term Life Insurance Rates for Those With Low Health Ratings for 2022

Your health rating is one of the most significant determining factors when it comes to the cost of your insurance. It is based on your medical history, family medical history, smoking status and medical condition. Life insurance health ratings are typically categorized into the following classifications:

  • Preferred
  • Standard
  • Preferred Smoker
  • Standard Smoker
  • Preferred Plus
  • Standard Plus
  • Substandard Insurance policies can cost 46.25%–101.01% more for a low-health individual than for someone with excellent health. Based on average monthly rates, Mutual of Omaha is the cheapest company for individuals with low health ratings, typically charging $22 per month. Transamerica is not far behind at $31 monthly, followed by Mass Mutual, with premiums averaging $40 each month.
Cheapest Term Life Provider Quotes for Those With Low Health Ratings for 2022

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  • Insurer
    Monthly Rate
  • 1.
    Mutual of Omaha
    $22.15
  • 2.
    Transamerica
    $30.96
  • 3.
    Mass Mutual
    $40.46
  • 4.
    State Farm
    $41.54
  • 5.
    Nationwide
    $42.66
  • 6.
    AAA
    $45.54
  • 7.
    Progressive
    $46.77
  • 8.
    Prudential
    $54.65

The quotes above are based on a policy with $500k coverage and a 20-year term length for a 30-year-old individual with a low health rating.

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MoneyGeek Top Pick
Mutual of Omaha
  • MoneyGeek Score: 90.8/100
  • J.D. Power Rating: 783.4/1000
  • AM Best Rating: A+

Cheapest Term Life Providers for High BMI Individuals for 2022

Individuals with high BMIs are considered high-risk individuals by life insurance companies. That is because high BMI can increase the risk of certain conditions, like diabetes and high blood pressure.

In some cases, insurance providers use body mass index, or BMI, to determine an individual's level of health. This causes some individuals who have good muscle mass percentage, like bodybuilders, to sometimes be considered obese.

Insurance can increase by 3.50%–104.04% for those who have high BMI.

On average, Nationwide offers the best rates for individuals with high BMIs. It charges an average monthly rate of $22. Mass Mutual comes in second at just over $22.52 per month, followed at just pennies more by Mutual of Omaha at a monthly rate of $22.93.

Quotes from the Cheapest Term Life Insurance Providers for 2022 for High BMI

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  • Insurer
    Monthly Rate
  • 1.
    Nationwide
    $21.96
  • 2.
    Mass Mutual
    $22.52
  • 3.
    Mutual of Omaha
    $22.93
  • 4.
    Transamerica
    $35.83
  • 5.
    State Farm
    $42.99
  • 6.
    AAA
    $47.13
  • 7.
    Progressive
    $48.40
  • 8.
    Prudential
    $52.79

The quotes above are based on a policy with $500k coverage and a 20-year term for a 30-year-old individual with a BMI classified as obese.

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MoneyGeek Top Pick
Nationwide
  • MoneyGeek Score: 88.6/100
  • J.D. Power Rating: 785.5/1000
  • AM Best Rating: A+

Cheapest Term Life Insurance Companies for Pre-Existing Conditions for 2022

Insurance companies also base premiums on whether or not an individual has pre-existing conditions, which are health issues and conditions acquired before they applied for life insurance coverage.

Common pre-existing conditions include:

  • Asthma
  • Autism
  • Cancer
  • Depression and other mental health conditions
  • Diabetes
  • Epilepsy
  • Heart disease

While most insurers are flexible regarding pre-existing conditions, eligibility for a traditional policy may vary depending on type or severity.

Individuals with pre-existing conditions tend to have more expensive premiums than those with excellent health. However, it is still possible to find cost-effective life insurance if you have a medical condition. Nationwide offers the cheapest rate at $21 per month, followed by Mutual of Omaha at $22 and AAA at $23.

Cheapest Term Insurance Provider Rates for Pre-Existing Conditions for 2022

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  • Insurer
    Monthly Rates
  • 1.
    Nationwide
    $21.22
  • 2.
    Mutual of Omaha
    $22.15
  • 3.
    AAA
    $23.10
  • 4.
    Prudential
    $34.82

Companies With the Cheapest Permanent Life Insurance for 2022

Another coverage option, permanent life insurance, is designed not to expire. There are two types of permanent life insurance: whole life insurance and universal life insurance.

Unlike term life insurance, whole life insurance is guaranteed to provide coverage that will last until the policyholder's death, and it includes cash value. Despite being more expensive than term life insurance, it is the best option for people who need long-term coverage. If your highest priority is cheap life insurance, term life is the way to go.

The cheapest permanent life insurance provider for you will be based on several factors. These include your age, gender, location, smoking status and overall health.

Companies With the Cheapest Whole Life Insurance for 2022

Similar to term life insurance policies, as you age, the cost of whole life insurance premiums increase. The cheapest options may vary depending on how old you are. Transamerica typically offers the lowest rates for 30-, 40-, 50- and 60-year-olds. Meanwhile, State Farm has the cheapest permanent life insurance for 70-year-olds.

Whole life insurance is more complex than term life insurance. It has two parts: the life insurance component and the cash value component. Whole life insurance can cost up to 20 times more than term life insurance. It remains active throughout your lifetime or until a specified age, typically 100–121 years old. It also offers generally tax-deferred cash value, which can serve as a savings component.

Additionally, premiums for whole life insurance will never increase once the policy is in place, regardless of age, health and inflation. MoneyGeek evaluated companies to determine the cheapest options based on their term life insurance rates.

Companies With the Cheapest Whole Life Insurance for 2022

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  • Cheapest For...
    Insurer
  • 30-Year-Olds
    Transamerica
  • 40-Year-Olds
    Transamerica
  • 50-Year-Olds
    Transamerica
  • 60-Year-Olds
    Transamerica
  • 70-Year-Olds
    State Farm
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MoneyGeek Top Pick
Transamerica
  • MoneyGeek Score: 80/100
  • J.D. Power Rating: 736.4/1000
  • AM Best Rating: A

Cheapest Life Insurance Companies With No Medical Exam for 2022

If you are looking for life insurance that does not require a medical exam, you have two options: guaranteed acceptance and simplified issue.

Types of Life Insurance That Do Not Require a Medical Exam for 2022

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Guaranteed Acceptance Insurance:
  • Fast approval
  • Has a waiting period, during which the beneficiaries may only receive a return of premiums paid plus interest, instead of the full death benefit
  • Limited coverage amount or coverage cap, which is typically up to $25,000
  • No medical exams or questionnaires about health
  • Usually limited to individuals 50–85 years old, though some companies offer this coverage to younger individuals
wristwatch
Simplified Issue Insurance:
  • Possible waiting period for full benefits payout
  • Limited coverage amount or coverage cap, which is typically up to $150,000
  • Underwriting based on medical records, driving history and family medical history
  • Has questionnaires about health
  • No age restrictions

Cheapest Guaranteed Acceptance Insurance

If you are looking for affordable guaranteed acceptance insurance, the best option for you is Ethos. It offers an average monthly rate of $18. Following Ethos is Mutual of Omaha, with premiums of $57 and Gerber Life with a $68 premium.

Quotes From Cheapest Guaranteed Acceptance Insurance Providers for 2022

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  • Insurer
    Monthly Rate
  • 1.
    Ethos
    $18.86
  • 2.
    Mutual of Omaha
    $57.00
  • 3.
    Gerber Life
    $68.05
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MoneyGeek Top Pick
Ethos LIfe
  • MoneyGeek Score: N/A
  • J.D. Power Rating: N/A
  • AM Best Rating: A

Cheapest Simplified Issue Insurance for 2022

Only a few companies offer simplified issue insurance products. It is also challenging to get quote data for simplified issue products. That said, MoneyGeek experts narrowed down the cheapest, high-quality option for this type of insurance to Nationwide.

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MoneyGeek Top Pick
Nationwide
  • MoneyGeek Score: 88.6/100
  • J.D. Power Rating: 785.5/1000
  • AM Best Rating: A+

Cheapest Life Insurance Companies With Final Expense Insurance for 2022

Final expense insurance is a type of whole life insurance that provides a small death benefit intended to cover funeral expenses. It is also known as funeral insurance or burial insurance. Quote data for final expense insurance is difficult to come by. However, MoneyGeek experts narrowed down the most cost-effective life insurance provider for a final expense policy to Transamerica.

Transamerica’s final expense product offering includes face value amounts ranging between $1,000–$50,000. The death benefit is income tax-free.

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MoneyGeek Top Pick
Transamerica
  • MoneyGeek Score: 80/100
  • J.D. Power Rating: 736.4/1000
  • AM Best Rating: A

Should You Get Life Insurance?

For this article, we investigated the cheapest options for life insurance. But just because something is cheap does not always mean it’s your best option. The purpose of this section is to outline which criteria you may want to consider when deciding whether or not you need life insurance.

So, the question we want to answer here is, “Is it practical for someone with my specific circumstances to get life insurance?”

Though most people need life insurance, not everyone does. For many, it may be an unnecessary expense. If you meet certain criteria, it is okay to forgo life insurance altogether. However, many people, especially breadwinners for their families, should buy life insurance.

Should You Get Life Insurance?

checkSign
Yes, If:
  • You have outstanding debts.
  • You have dependents.
  • You plan on leaving an inheritance to your loved ones.
  • You want to prepare for final expenses, such as funeral and other related costs.
  • You want to provide for expected education expenses for secondary school and college.
  • You are looking for protection for business interests that may outlive you.
  • You want access to cash value that may help you in the event of large unexpected expenses.
denySign
No, If:
  • You have enough money saved to cover final expenses.
  • You do not have dependents.
  • You do not have large debts.
  • You do not own property.
  • You do not have a business that will be liquidated after you die.

Depending on your circumstances and financial situation, you may not need to purchase life insurance. For instance, if your income is enough to cover all your bills and expenses, then you may not need it. However, if you have dependents or struggle to pay debts, it is good to consider life insurance.

How to Get Cheaper Life Insurance

The rates from the companies mentioned above are some of the most affordable life insurance premiums available. However, there are ways to potentially lower life insurance costs even more.

1

Take some time to decide.

Don’t rush your decision. Consider your financial circumstances and needs, so you only buy the coverage you need.

2

Get professional help.

The best way to find cost-effective life insurance is to ask a financial advisor. A professional can discuss all the details and features with you to help you better understand your options.

3

Shop around.

Companies often charge differently for similar policies. They may also offer different features and inclusions. Compare prices and coverage options to find the best inexpensive life insurance for your needs.

4

Don’t get unnecessary coverage.

Read the fine print. Check the riders offered or included in your policy. Consider which coverage you can do without.

5

Get life insurance while you are young.

The cost of life insurance increases as you age. So, it is better to purchase a policy while you are young and healthier.

6

Consider laddering your coverage.

Buying the right amount of coverage is essential. However, your needs may change as you age. You can opt to get a series of term life insurance enough to cover specific periods and a small whole life policy to pay for final expenses.

Finding cheap life insurance may be challenging, but it is manageable if you take a few extra steps, like shopping around and seeking professional help. Be sure to review your policy to check for unnecessary add-ons that may increase the price of your coverage.

Shopping for life insurance requires research and a proper understanding of the various options available. Your circumstances and needs will determine how much your policy will cost. You may also choose between lifetime coverage and one that is limited to a specific period.

Frequently Asked Questions About Cheap Life Insurance

Understanding life insurance can be challenging, especially if you are a first-time buyer. MoneyGeek answers some frequently asked questions to give you more insight into the topic.

Expert Advice: Finding Affordable Life Insurance

  1. What factors affect the cost of life insurance? What does it mean to have cheap life insurance?
  2. What is the best strategy to find cheaper rates on a life insurance policy?
  3. What types of life insurance policies are the cheapest? Why?
Joseph Farizo
Joseph Farizo

Assistant Professor of Finance at the Robins School of Business at the University of Richmond

Heidi Petschauer, CIC
Heidi Petschauer, CIC

President, Petschauer Insurance

Jonathan Handy
Jonathan Handy

Assistant Professor of Finance at Western Kentucky University

Greg Kuhlemeyer
Greg Kuhlemeyer

Professor of Business Finance at Carroll University

Dr. Nan Zhu
Dr. Nan Zhu

Associate Professor of Risk Management at the Smeal College of Business, Pennsylvania State University

Robert Hartwig
Robert Hartwig

Clinical Associate Professor, Finance Department and Director, Center for Risk and Uncertainty Management; Darla Moore School of Business; University of South Carolina

Dr. Stephen Willand
Dr. Stephen Willand

Adjunct Professor at the School of Business, Quinsigamond Community College

Ali Nejadmalayeri, Ph.D., CFA®
Ali Nejadmalayeri, Ph.D., CFA®

John A. Guthrie Endowed Chair of Banking and Financial Services and Associate Professor of Finance at the University of Wyoming

Helen Stephens, CFP(R), EA, CEPA
Helen Stephens, CFP(R), EA, CEPA

President at Aspen Wealth Management

Brandon Hartsel
Brandon Hartsel

President at Fiduciary Insurance Group

Danielle Seurkamp, MS, MPAS®, FBS®, CFP®
Danielle Seurkamp, MS, MPAS®, FBS®, CFP®

Founder at Well Spent Wealth Planning

Brett Coffman
Brett Coffman

Managing Director | NAPFA-Registered Financial Advisor at Resilience Wealth Advisors

Daniel Tobias
Daniel Tobias

CEO and CERTIFIED FINANCIAL PLANNER™ Professional at Passport Wealth Management

Kevin Meyer
Kevin Meyer

Financial Advisor at John Bailey Financial

Matthew Crum
Matthew Crum

Financial Planner and Founder at True North Financial Services

Ksenia Sarkisova CFP®️
Ksenia Sarkisova CFP®️

Wealth Advisor at Octavia Wealth Advisors

Patrick Rusch
Patrick Rusch

CFP/ChFC/CLU Partner & Financial Planner at Investment Designers

Mitchell Hamer, CFP®
Mitchell Hamer, CFP®

Wealth Advisor at Kovitz

Ben Fuchs
Ben Fuchs

Certified Financial Planner® (CFP) and Founder at Fuchs Financial

Ryan Rink, CFP®, ChFC®, CLTC®
Ryan Rink, CFP®, ChFC®, CLTC®

Financial Advisor at Shakespeare Wealth Management

Kimberly Flynn
Kimberly Flynn

Financial Advisor at Thrivepoint Financial

Brendan Sheehan
Brendan Sheehan

Managing Director at Waymark Wealth Management

Mark Kinney
Mark Kinney

Founding Partner and Certified Financial Planner at Kinney Wealth, Inc.

David Peters
David Peters

CPA, CFP, ChFC, CLU, CPCU, CGMA

Brent Novoselsky
Brent Novoselsky

ChFC, Vice President, Wealth Management

Travis Tracy, CFP®, EA
Travis Tracy, CFP®, EA

Founder and Financial Planner at Fortitude Financial Planning

Andrew Dressel
Andrew Dressel

Financial Planner at Abundo Wealth

Rob Bertman, CFA, CFP®
Rob Bertman, CFA, CFP®

Founder, Family Budget Expert

Kristin Baker
Kristin Baker

Paraplanner at Pine Grove Financial Group

Craig Joncas
Craig Joncas

Financial Advisor & Chief Executive Officer

Tom Luing
Tom Luing

Financial Planner at Capital Management Associates, Inc.

Jeffrey Settle
Jeffrey Settle

Bachelor's and CFP designation

Michael Angell
Michael Angell

Financial Planner at Pi Wealth Management

Jeff Hahn
Jeff Hahn

Founder at Buttonwood Wealth

Joseph S. Burgess
Joseph S. Burgess

CFP®, AIF®, CAP®, CLU, ChFC

Rachael Burns
Rachael Burns

Founder and Certified Financial Planner® Practitioner at True Worth Financial Planning

Chuck Foresyth, CFP
Chuck Foresyth, CFP

Wealth Advisor at Signature Wealth Strategies

Jamie Lima
Jamie Lima

Founder and President at Woodson Wealth Management

Jonathan Grannick
Jonathan Grannick

Financial Planner & Owner Credentials: CFP®

Brett Sifling
Brett Sifling

Director of Get Invested at Gerber Kawasaki Wealth & Investment Management

Jon Coughlin
Jon Coughlin

Private Wealth Manager at Munroe Morrow Wealth Management

Erik Jefferson, CFA, CAIA, CWS
Erik Jefferson, CFA, CAIA, CWS

Chief Investment Officer at Flagship Harbor Advisors

Donna Freedman
Donna Freedman

Writer, Editor, Individual and Corporate Coaching at Write A Blog People Will Read

Brett Kusske
Brett Kusske

President Certified Financial Planner

Gabriel Shahin
Gabriel Shahin

President, CFP, MBA

Thomas Fisher
Thomas Fisher

Owner, CERTIFIED FINANCIAL PLANNER™

Karl Frank
Karl Frank

President of A&I Financial Services

Steven Evensen, CFP®
Steven Evensen, CFP®

Investment Advisor Representative at Gerber Kawasaki Wealth & Investment Management

Susan Koe
Susan Koe

Certified Financial Planner

Justin Baxter
Justin Baxter

Financial Advisor & Accredited Investment Fiduciary

Michael L. Kutz
Michael L. Kutz

Financial Advisor at IAG

Shane Witt
Shane Witt

Financial Advisor

Patti Hughes
Patti Hughes

CPA, CFP and President of Lake Life Wealth Advisory Group

Danielle Miura, CFP®
Danielle Miura, CFP®

Founder of Spark Financials

Brennan Gmeiner, AIF®, CLTC®, WMS®
Brennan Gmeiner, AIF®, CLTC®, WMS®

Director of Business Development & Financial Advisor

Michelle Lee Wagner
Michelle Lee Wagner

MBA, CFP®

Gary Weiner
Gary Weiner

Personal Finance Blogger at Super Saving Tips

Tolen Teigen
Tolen Teigen

Chief Investment Officer at FinDec, CFA, CFP, AIF, C(k)P, ChFC, CASL, AEP and MSFS

David Ritter
David Ritter

LPL Financial Advisor at Discovery Financial

Karen L. Asbra, CFP®
Karen L. Asbra, CFP®

Chief Operating Officer and Principal at Rappaport Reiches Capital Management, LLC

Steven Herrmann, CFP®
Steven Herrmann, CFP®

Partner, Financial Consultant at The AdvisoryOne Group

Tim DiSette, ChFC, AIF
Tim DiSette, ChFC, AIF

Senior Partner at Infinitas

Lena Nebel, CFP®, MSFS
Lena Nebel, CFP®, MSFS

Chief Operating Officer at BFG Financial Advisors

Nick Rose, CFP®, CEPA®
Nick Rose, CFP®, CEPA®

Co-Founder & Financial Consultant at TrailWise Financial Partners

Kane Brolin
Kane Brolin

CERTIFIED FINANCIAL PLANNER™ Practitioner

AJ DiLiberto
AJ DiLiberto

COO, CCO at Noble Wealth Management

Kalvin Sid
Kalvin Sid

CFP® MBA, CKA®

Kenneth Eaton
Kenneth Eaton

Managing Partner at Stepp & Rothwell

Kevin Gotts
Kevin Gotts

Certified Financial Planner

George Pate III, CLTC
George Pate III, CLTC

Financial Advisor at The Journeys Group

 Thomas Kopelman
Thomas Kopelman

Co-Founder and Financial Partner at AllStreet Wealth

Gary Grewal
Gary Grewal

Owner at Financial Fives

Frances Bird
Frances Bird

Private Wealth Advisor & Analyst

Adam Wright, CFA, CFP®
Adam Wright, CFA, CFP®

Managing Partner at Wright Associates Investment Advisers

Jordan Frey
Jordan Frey

MD, Founder of The Prudent Plastic Surgeon

Dan Beltran
Dan Beltran

Founder at Plantran Financial

Adam Spiegelman
Adam Spiegelman

CFP

Dick Pfister
Dick Pfister

CEO, Founder at AlphaCore

Connor Bauserman, ChFC®
Connor Bauserman, ChFC®

Financial Advisor at Preferred Financial Group, LLC

Ari Fischman
Ari Fischman

FP, Financial Life Advisor at Telemus

Jae Oh
Jae Oh

Certified Financial Planner

Aywanna Monroe
Aywanna Monroe

Independent Insurance Agent at Quickset Insurance and Associates

Kirk Barth, CFP, ChSNC, CLU, ChFC
Kirk Barth, CFP, ChSNC, CLU, ChFC

Financial Advisor at Smart Assets of Hawaii

Matt Bowden
Matt Bowden

CFP, ChFC, CLU

Leif Kristjansen
Leif Kristjansen
Elliott Appel
Elliott Appel

CFP®, CLU®, RLP® at Kindness Financial Planning

Dennis LaVoy, CFP®, CLU®
Dennis LaVoy, CFP®, CLU®

Founder & Financial Planner at Telos Financial

Micah Crabdree, CFP®, CRPS®, CPFA®
Micah Crabdree, CFP®, CRPS®, CPFA®

Regional Vice President and Wealth Advisor at KDI Wealth Management

Matt Hylland
Matt Hylland

Financial Planner at Arnold & Mote Wealth Management

Zachary Bachner
Zachary Bachner

Advisor and Investment Research Analyst at Summit Financial Consulting

Michael E. Gray Jr.
Michael E. Gray Jr.

Independent Insurance Agent

Corey Janoff, CFP®
Corey Janoff, CFP®

Financial Advisor at Finity Group

Claire Thornton
Claire Thornton

Lead Financial Planner at Inspired Financial

Methodology

To obtain cost data for term life insurance policies, MoneyGeek collected quotes from 13 companies across all 50 states for ages 30–70. We utilized the same term life insurance cost data to determine which companies had the cheapest whole life insurance policies.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.


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