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The average cost of life insurance is $23 per month for a 10-year, $250,000 term life insurance policy for a healthy 40-year-old man. Factors like age, health and lifestyle significantly influence this cost. For example, a 50-year-old with the same profile and policy would see the monthly premium increase to $45. Understanding how personal characteristics can affect the cost of life insurance can help you make more informed decisions.

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Key Takeaways
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A 10-year, $250,000 term life insurance policy can have an average monthly cost between $16 and $273, depending on your age, gender and other factors.

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There are two main types of life insurance policies: term life and permanent life. Term life insurance policies expire after a set number of years, while permanent life insurance policies do not.

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Permanent life insurance policies are typically more expensive than term life policies, primarily due to their cash value component, which gives you a tax-free investment account.

How Much Is Life Insurance?

The average cost of life insurance is $23 per month for a 40-year-old man who is a non-smoker with excellent health, seeking a 10-year term policy with $250,000 in coverage. A woman of the same age and health profile would pay $19 each month for the same policy. Gender impacts insurance costs, as women generally live longer than men.

Policy type and coverage amount are also key factors in determining cost. Term policies, which last for a specific period, are typically more affordable than whole life policies that provide lifelong coverage. The amount of coverage you choose directly influences the premium, with higher coverage amounts resulting in higher costs.

To find the best premiums tailored to your needs, consider comparing quotes from several insurance providers. This can help you compare costs and get a comprehensive view of the available options.

Average Term Life Insurance Cost by Age

Age plays a significant role in determining life insurance premiums because the older you get, the higher the risk to the insurance company, and the higher the coverage cost. As you age, the likelihood of health issues increases, and the insurer's risk goes up.

For a 10-year term policy with $250,000 in coverage, a 30-year-old man would pay a monthly cost of $16. In contrast, a 60-year-old man would pay $91 per month, amounting to $900 more per year than a 30-year-old would for the same life insurance policy. A 70-year-old man would face an even higher premium of $243 per month, or $2,916 per year.

The age-related increase in premiums underscores why you may want to consider buying life insurance at a younger age, when premiums are generally more affordable, and the coverage can be locked in at a lower rate.

Average Monthly Cost of Term Life Insurance by Age
Age
10-Year Term
20-Year Term

30

$16

$20

40

$23

$29

50

$45

$64

60

$91

$164

70

$243

$752

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Average Term Life Insurance Cost by Gender

Gender plays a role in determining life insurance premiums, often resulting in men paying more than women. This difference is primarily based on statistical life expectancies; on average, women tend to live longer than men.

Insurance companies use this data to assess risk. Since men have shorter life expectancies, they are considered a higher risk, leading to higher premiums. To illustrate this impact, consider a 10-year term policy with $250,000 in coverage: a 50-year-old woman would face a monthly cost of $36, while a 50-year-old man would pay $45.

This gender-based pricing reflects the insurer's risk assessment, taking into account the average lifespan and health profiles of men and women. It underscores the importance of understanding how various factors, including gender, can influence the cost of life insurance.

Average Monthly Cost of Life Insurance by Gender
Gender
10-Year Term
20-Year Term

Female

$14

$16

Male

$16

$20

Female

$19

$24

Male

$23

$29

Female

$36

$51

Male

$45

$64

Female

$64

$114

Male

$91

$164

Female

$180

$657

Male

$243

$752

Average Term Life Insurance Cost by Coverage Amount

Coverage amounts directly correlate with life insurance costs. Typically, the more coverage you seek, the higher your premium. This is because the insurance company's potential payout increases with the coverage amount, as does the risk they assume.

For example, a 40-year-old man opting for a 10-year term policy with $250,000 in coverage would pay a monthly average of $23. If he chooses $500,000 in coverage, the premium increases to $29, and for $1 million in coverage, it jumps to $53 per month. These figures illustrate how the coverage amount can impact the cost, helping you understand the financial implications of your selected coverage level.

AVERAGE MONTHLY COST OF TERM LIFE INSURANCE BY COVERAGE AMOUNT
Coverage Amount
10-Year Term
20-Year Term

$1 Million

$ 35

$ 50

$1 Million

$ 719

$ 2,988

$1 Million

$ 117

$ 203

$1 Million

$ 53

$ 83

$1 Million

$ 271

$ 556

$250K

$ 23

$ 29

$250K

$ 16

$ 20

$250K

$ 243

$ 752

$250K

$ 91

$ 164

$250K

$ 45

$ 64

$500K

$ 141

$ 286

$500K

$ 65

$ 106

$500K

$ 410

$ 1,481

$500K

$ 29

$ 44

$500K

$ 20

$ 28

Average Term Life Insurance Cost by Term Length

The term length of the policy plays a significant role in the premium. For instance, for a 60-year-old man seeking a 10-year term policy with $250,000 in coverage, the monthly cost would be $91. However, if he opts for a 20-year policy with the same coverage amount, the monthly premium increases to $164.

This increase shows how the length of coverage can substantially affect the cost. A longer-term policy means the insurance company is committing to a rate for an extended period, during which health risks may increase. The insurer charges more to offset this additional risk.

AVERAGE MONTHLY COST OF TERM LIFE INSURANCE BY TERM LENGTH
Term Length
$250K
$500K
$1 Million

10-Year Term

$ 45

$ 65

$ 117

10-Year Term

$ 91

$ 141

$ 271

10-Year Term

$ 16

$ 20

$ 35

10-Year Term

$ 23

$ 29

$ 53

10-Year Term

$ 243

$ 410

$ 719

20-Year Term

$ 64

$ 106

$ 203

20-Year Term

$ 164

$ 286

$ 556

20-Year Term

$ 20

$ 28

$ 50

20-Year Term

$ 29

$ 44

$ 83

20-Year Term

$ 752

$ 1,481

$ 2,988

Average Term Life Insurance Cost by Health Rating

Your health rating provides a snapshot of your overall well-being and potential risk to the insurer. A 50-year-old man with excellent health would pay a monthly cost of $45 for a 10-year term policy with $250,000 in coverage. However, if the same man has a poor health rating, the premium would increase to $50 for the same policy.

This change in cost reflects the insurer's assessment of the likelihood of health-related issues arising during the policy term. Excellent health often translates to lower risk and lower premiums. Conversely, poor health indicates higher risk, leading to higher rates.

AVERAGE MONTHLY COST OF TERM LIFE INSURANCE BY HEALTH RATING
Health Rating
10-Year Term
20-Year Term

Excellent

$ 16

$ 20

Excellent

$ 45

$ 64

Poor

$ 65

$ 103

Excellent

$ 29

$ 44

Poor

$ 18

$ 22

Excellent

$ 719

$ 2,988

Excellent

$ 410

$ 1,481

Excellent

$ 65

$ 106

Excellent

$ 20

$ 28

Excellent

$ 141

$ 286

Excellent

$ 91

$ 164

Poor

$ 173

$ 350

Poor

$ 101

$ 182

Poor

$ 36

$ 53

Excellent

$ 271

$ 556

Poor

$ 79

$ 130

Poor

$ 270

$ 835

Poor

$ 25

$ 34

Poor

$ 886

$ 3,679

Poor

$ 144

$ 250

Poor

$ 502

$ 1,813

Excellent

$ 117

$ 203

Poor

$ 43

$ 62

Excellent

$ 53

$ 83

Poor

$ 25

$ 32

Excellent

$ 243

$ 752

Poor

$ 50

$ 72

Excellent

$ 35

$ 50

Excellent

$ 23

$ 29

Poor

$ 334

$ 684

Average Term Life Insurance Cost by State

The state you live in can affect your life insurance premiums. Different states have varying regulations, cost of living and mortality rates, all of which can influence the cost of insurance. For example, a state with higher medical costs might result in higher premiums, as the insurer anticipates higher expenses.

Additionally, some states have specific regulations that impact how insurers can calculate premiums, leading to variations in cost across state lines. In California, for instance, regulations govern the use of HIV testing in the underwriting process for life insurance, requiring insurers to obtain written informed consent before administering the test. This focus on consent and the limitations placed on how the information can be used can impact the underwriting process and, consequently, the premiums for life insurance policies.

Understanding how your location plays a role in determining your life insurance premiums can provide insight into the pricing and help you make a more informed decision when selecting a policy.

AVERAGE MONTHLY COST OF TERM LIFE INSURANCE BY STATE
State
10-Year Term
20-Year Term

Alabama

$ 11

$ 14

Alabama

$ 17

$ 22

Alabama

$ 26

$ 37

Alabama

$ 16

$ 21

Alabama

$ 25

$ 34

Alabama

$ 43

$ 61

Alabama

$ 26

$ 32

Alabama

$ 40

$ 54

Alabama

$ 66

$ 96

Alabama

$ 51

$ 63

Alabama

$ 78

$ 106

Alabama

$ 131

$ 189

Alabama

$ 64

$ 80

Alabama

$ 98

$ 133

Alabama

$ 165

$ 237

Alabama

$ 101

$ 126

Alabama

$ 156

$ 211

Alabama

$ 264

$ 376

Alaska

$ 13

$ 15

Alaska

$ 19

$ 23

Alaska

$ 31

$ 41

Alaska

$ 20

$ 23

Alaska

$ 28

$ 36

Alaska

$ 45

$ 61

Alaska

$ 32

$ 37

Alaska

$ 46

$ 58

Alaska

$ 73

$ 99

Alaska

$ 65

$ 76

Alaska

$ 94

$ 120

Alaska

$ 150

$ 203

Alaska

$ 83

$ 96

Alaska

$ 120

$ 153

Alaska

$ 191

$ 258

Alaska

$ 135

$ 157

Alaska

$ 195

$ 248

Alaska

$ 311

$ 420

Arizona

$ 20

$ 25

Arizona

$ 30

$ 41

Arizona

$ 48

$ 69

Arizona

$ 30

$ 39

Arizona

$ 43

$ 62

Arizona

$ 69

$ 106

Arizona

$ 47

$ 61

Arizona

$ 68

$ 99

Arizona

$ 108

$ 168

Arizona

$ 93

$ 123

Arizona

$ 135

$ 198

Arizona

$ 215

$ 338

Arizona

$ 117

$ 156

Arizona

$ 170

$ 250

Arizona

$ 270

$ 427

Arizona

$ 185

$ 250

Arizona

$ 269

$ 402

Arizona

$ 430

$ 685

Arkansas

$ 16

$ 20

Arkansas

$ 24

$ 32

Arkansas

$ 39

$ 54

Arkansas

$ 24

$ 30

Arkansas

$ 35

$ 48

Arkansas

$ 56

$ 82

Arkansas

$ 38

$ 48

Arkansas

$ 55

$ 76

Arkansas

$ 88

$ 129

Arkansas

$ 76

$ 96

Arkansas

$ 110

$ 152

Arkansas

$ 176

$ 257

Arkansas

$ 96

$ 121

Arkansas

$ 139

$ 192

Arkansas

$ 222

$ 325

Arkansas

$ 152

$ 193

Arkansas

$ 222

$ 305

Arkansas

$ 354

$ 517

California

$ 13

$ 16

California

$ 20

$ 25

California

$ 33

$ 44

California

$ 36

$ 59

California

$ 20

$ 25

California

$ 30

$ 39

California

$ 48

$ 67

California

$ 33

$ 40

California

$ 48

$ 64

California

$ 78

$ 109

California

$ 69

$ 84

California

$ 101

$ 134

California

$ 163

$ 228

California

$ 89

$ 108

California

$ 129

$ 171

California

$ 208

$ 292

California

$ 145

$ 177

California

$ 213

$ 281

California

$ 342

$ 479

Colorado

$ 13

$ 16

Colorado

$ 20

$ 26

Colorado

$ 32

$ 45

Colorado

$ 20

$ 25

Colorado

$ 29

$ 41

Colorado

$ 47

$ 69

Colorado

$ 33

$ 41

Colorado

$ 48

$ 66

Colorado

$ 76

$ 113

Colorado

$ 67

$ 86

Colorado

$ 98

$ 139

Colorado

$ 156

$ 236

Colorado

$ 86

$ 110

Colorado

$ 125

$ 177

Colorado

$ 199

$ 303

Colorado

$ 139

$ 181

Colorado

$ 203

$ 291

Colorado

$ 323

$ 497

Connecticut

$ 10

$ 11

Connecticut

$ 14

$ 17

Connecticut

$ 22

$ 28

Connecticut

$ 12

$ 15

Connecticut

$ 19

$ 25

Connecticut

$ 32

$ 44

Connecticut

$ 20

$ 24

Connecticut

$ 31

$ 40

Connecticut

$ 52

$ 72

Connecticut

$ 43

$ 51

Connecticut

$ 65

$ 85

Connecticut

$ 108

$ 151

Connecticut

$ 55

$ 65

Connecticut

$ 84

$ 109

Connecticut

$ 139

$ 193

Connecticut

$ 90

$ 107

Connecticut

$ 138

$ 179

Connecticut

$ 229

$ 318

Delaware

$ 12

$ 15

Delaware

$ 18

$ 24

Delaware

$ 27

$ 40

Delaware

$ 17

$ 23

Delaware

$ 26

$ 38

Delaware

$ 44

$ 67

Delaware

$ 28

$ 36

Delaware

$ 42

$ 60

Delaware

$ 70

$ 107

Delaware

$ 56

$ 74

Delaware

$ 85

$ 123

Delaware

$ 142

$ 218

Delaware

$ 71

$ 93

Delaware

$ 108

$ 156

Delaware

$ 180

$ 277

Delaware

$ 114

$ 151

Delaware

$ 174

$ 252

Delaware

$ 290

$ 449

Florida

$ 11

$ 14

Florida

$ 17

$ 22

Florida

$ 26

$ 37

Florida

$ 16

$ 20

Florida

$ 25

$ 34

Florida

$ 42

$ 61

Florida

$ 26

$ 33

Florida

$ 40

$ 54

Florida

$ 67

$ 97

Florida

$ 52

$ 66

Florida

$ 81

$ 111

Florida

$ 136

$ 198

Florida

$ 66

$ 84

Florida

$ 102

$ 141

Florida

$ 172

$ 251

Florida

$ 107

$ 135

Florida

$ 165

$ 227

Florida

$ 278

$ 405

Georgia

$ 18

$ 23

Georgia

$ 28

$ 38

Georgia

$ 45

$ 64

Georgia

$ 27

$ 35

Georgia

$ 40

$ 57

Georgia

$ 65

$ 99

Georgia

$ 43

$ 57

Georgia

$ 64

$ 92

Georgia

$ 103

$ 158

Georgia

$ 86

$ 116

Georgia

$ 128

$ 188

Georgia

$ 208

$ 323

Georgia

$ 109

$ 147

Georgia

$ 162

$ 238

Georgia

$ 263

$ 410

Georgia

$ 174

$ 237

Georgia

$ 258

$ 385

Georgia

$ 421

$ 663

Hawaii

$ 11

$ 15

Hawaii

$ 16

$ 23

Hawaii

$ 26

$ 39

Hawaii

$ 24

$ 24

Hawaii

$ 16

$ 22

Hawaii

$ 25

$ 36

Hawaii

$ 41

$ 65

Hawaii

$ 25

$ 34

Hawaii

$ 39

$ 58

Hawaii

$ 66

$ 102

Hawaii

$ 51

$ 69

Hawaii

$ 78

$ 115

Hawaii

$ 130

$ 205

Hawaii

$ 64

$ 87

Hawaii

$ 98

$ 145

Hawaii

$ 164

$ 258

Hawaii

$ 102

$ 139

Hawaii

$ 156

$ 231

Hawaii

$ 260

$ 409

Idaho

$ 17

$ 21

Idaho

$ 25

$ 35

Idaho

$ 41

$ 58

Idaho

$ 24

$ 32

Idaho

$ 36

$ 52

Idaho

$ 58

$ 89

Idaho

$ 38

$ 51

Idaho

$ 56

$ 83

Idaho

$ 91

$ 142

Idaho

$ 77

$ 104

Idaho

$ 112

$ 168

Idaho

$ 181

$ 287

Idaho

$ 97

$ 132

Idaho

$ 142

$ 213

Idaho

$ 228

$ 364

Idaho

$ 154

$ 212

Idaho

$ 226

$ 343

Idaho

$ 364

$ 586

Illinois

$ 12

$ 14

Illinois

$ 18

$ 23

Illinois

$ 29

$ 40

Illinois

$ 19

$ 23

Illinois

$ 27

$ 36

Illinois

$ 42

$ 62

Illinois

$ 30

$ 36

Illinois

$ 43

$ 59

Illinois

$ 68

$ 100

Illinois

$ 61

$ 75

Illinois

$ 88

$ 121

Illinois

$ 139

$ 207

Illinois

$ 77

$ 96

Illinois

$ 111

$ 155

Illinois

$ 177

$ 264

Illinois

$ 124

$ 157

Illinois

$ 180

$ 253

Illinois

$ 285

$ 430

Indiana

$ 18

$ 22

Indiana

$ 26

$ 34

Indiana

$ 42

$ 58

Indiana

$ 27

$ 33

Indiana

$ 39

$ 53

Indiana

$ 62

$ 89

Indiana

$ 42

$ 53

Indiana

$ 62

$ 83

Indiana

$ 98

$ 141

Indiana

$ 85

$ 105

Indiana

$ 123

$ 167

Indiana

$ 197

$ 283

Indiana

$ 107

$ 133

Indiana

$ 156

$ 210

Indiana

$ 248

$ 356

Indiana

$ 170

$ 211

Indiana

$ 248

$ 334

Indiana

$ 397

$ 568

Iowa

$ 18

$ 22

Iowa

$ 26

$ 36

Iowa

$ 43

$ 62

Iowa

$ 27

$ 35

Iowa

$ 39

$ 57

Iowa

$ 63

$ 97

Iowa

$ 43

$ 58

Iowa

$ 63

$ 92

Iowa

$ 102

$ 158

Iowa

$ 89

$ 119

Iowa

$ 130

$ 192

Iowa

$ 208

$ 327

Iowa

$ 113

$ 152

Iowa

$ 165

$ 244

Iowa

$ 265

$ 418

Iowa

$ 183

$ 248

Iowa

$ 267

$ 399

Iowa

$ 429

$ 682

Kansas

$ 18

$ 23

Kansas

$ 27

$ 38

Kansas

$ 44

$ 64

Kansas

$ 28

$ 37

Kansas

$ 41

$ 59

Kansas

$ 65

$ 100

Kansas

$ 45

$ 60

Kansas

$ 65

$ 96

Kansas

$ 105

$ 163

Kansas

$ 92

$ 123

Kansas

$ 134

$ 198

Kansas

$ 214

$ 337

Kansas

$ 117

$ 157

Kansas

$ 170

$ 252

Kansas

$ 272

$ 430

Kansas

$ 189

$ 256

Kansas

$ 275

$ 411

Kansas

$ 441

$ 702

Kentucky

$ 10

$ 12

Kentucky

$ 15

$ 20

Kentucky

$ 23

$ 33

Kentucky

$ 14

$ 18

Kentucky

$ 22

$ 30

Kentucky

$ 37

$ 54

Kentucky

$ 22

$ 28

Kentucky

$ 34

$ 47

Kentucky

$ 58

$ 84

Kentucky

$ 44

$ 56

Kentucky

$ 68

$ 94

Kentucky

$ 115

$ 167

Kentucky

$ 56

$ 71

Kentucky

$ 86

$ 118

Kentucky

$ 145

$ 210

Kentucky

$ 89

$ 113

Kentucky

$ 138

$ 188

Kentucky

$ 231

$ 334

Louisiana

$ 19

$ 23

Louisiana

$ 27

$ 36

Louisiana

$ 45

$ 62

Louisiana

$ 28

$ 35

Louisiana

$ 40

$ 55

Louisiana

$ 64

$ 93

Louisiana

$ 44

$ 55

Louisiana

$ 64

$ 87

Louisiana

$ 101

$ 147

Louisiana

$ 88

$ 109

Louisiana

$ 128

$ 173

Louisiana

$ 204

$ 294

Louisiana

$ 111

$ 138

Louisiana

$ 161

$ 218

Louisiana

$ 257

$ 370

Louisiana

$ 177

$ 220

Louisiana

$ 257

$ 348

Louisiana

$ 411

$ 590

Maine

$ 11

$ 13

Maine

$ 16

$ 21

Maine

$ 25

$ 35

Maine

$ 15

$ 19

Maine

$ 23

$ 32

Maine

$ 39

$ 58

Maine

$ 24

$ 31

Maine

$ 37

$ 52

Maine

$ 63

$ 92

Maine

$ 49

$ 63

Maine

$ 76

$ 104

Maine

$ 127

$ 186

Maine

$ 62

$ 79

Maine

$ 96

$ 132

Maine

$ 161

$ 236

Maine

$ 99

$ 127

Maine

$ 154

$ 212

Maine

$ 259

$ 378

Maryland

$ 9

$ 10

Maryland

$ 13

$ 16

Maryland

$ 21

$ 27

Maryland

$ 12

$ 14

Maryland

$ 19

$ 24

Maryland

$ 31

$ 43

Maryland

$ 20

$ 23

Maryland

$ 30

$ 39

Maryland

$ 50

$ 69

Maryland

$ 40

$ 48

Maryland

$ 62

$ 79

Maryland

$ 103

$ 141

Maryland

$ 52

$ 61

Maryland

$ 79

$ 101

Maryland

$ 131

$ 180

Maryland

$ 84

$ 98

Maryland

$ 128

$ 164

Maryland

$ 214

$ 292

Massachusetts

$ 11

$ 15

Massachusetts

$ 16

$ 23

Massachusetts

$ 25

$ 38

Massachusetts

$ 29

$ 29

Massachusetts

$ 15

$ 21

Massachusetts

$ 24

$ 36

Massachusetts

$ 41

$ 64

Massachusetts

$ 25

$ 35

Massachusetts

$ 40

$ 59

Massachusetts

$ 67

$ 105

Massachusetts

$ 54

$ 74

Massachusetts

$ 84

$ 124

Massachusetts

$ 142

$ 222

Massachusetts

$ 69

$ 95

Massachusetts

$ 108

$ 160

Massachusetts

$ 183

$ 286

Massachusetts

$ 115

$ 158

Massachusetts

$ 179

$ 264

Massachusetts

$ 304

$ 472

Michigan

$ 11

$ 14

Michigan

$ 17

$ 22

Michigan

$ 26

$ 38

Michigan

$ 17

$ 21

Michigan

$ 26

$ 35

Michigan

$ 43

$ 63

Michigan

$ 26

$ 34

Michigan

$ 41

$ 56

Michigan

$ 68

$ 100

Michigan

$ 53

$ 68

Michigan

$ 82

$ 113

Michigan

$ 137

$ 201

Michigan

$ 67

$ 86

Michigan

$ 104

$ 142

Michigan

$ 173

$ 253

Michigan

$ 108

$ 137

Michigan

$ 166

$ 228

Michigan

$ 277

$ 405

Minnesota

$ 12

$ 14

Minnesota

$ 17

$ 22

Minnesota

$ 28

$ 39

Minnesota

$ 18

$ 22

Minnesota

$ 26

$ 35

Minnesota

$ 41

$ 60

Minnesota

$ 29

$ 36

Minnesota

$ 41

$ 57

Minnesota

$ 66

$ 97

Minnesota

$ 59

$ 74

Minnesota

$ 85

$ 119

Minnesota

$ 136

$ 203

Minnesota

$ 75

$ 95

Minnesota

$ 108

$ 152

Minnesota

$ 173

$ 260

Minnesota

$ 121

$ 155

Minnesota

$ 176

$ 250

Minnesota

$ 280

$ 425

Mississippi

$ 18

$ 21

Mississippi

$ 26

$ 34

Mississippi

$ 42

$ 58

Mississippi

$ 27

$ 32

Mississippi

$ 39

$ 51

Mississippi

$ 61

$ 86

Mississippi

$ 42

$ 50

Mississippi

$ 60

$ 79

Mississippi

$ 96

$ 134

Mississippi

$ 82

$ 99

Mississippi

$ 120

$ 156

Mississippi

$ 190

$ 264

Mississippi

$ 103

$ 124

Mississippi

$ 150

$ 197

Mississippi

$ 239

$ 332

Mississippi

$ 164

$ 197

Mississippi

$ 240

$ 312

Mississippi

$ 382

$ 527

Missouri

$ 11

$ 14

Missouri

$ 16

$ 21

Missouri

$ 25

$ 35

Missouri

$ 16

$ 20

Missouri

$ 24

$ 33

Missouri

$ 40

$ 59

Missouri

$ 25

$ 31

Missouri

$ 38

$ 53

Missouri

$ 64

$ 94

Missouri

$ 49

$ 63

Missouri

$ 76

$ 105

Missouri

$ 128

$ 187

Missouri

$ 62

$ 80

Missouri

$ 96

$ 133

Missouri

$ 161

$ 236

Missouri

$ 100

$ 127

Missouri

$ 153

$ 211

Missouri

$ 257

$ 377

Montana

$ 11

$ 13

Montana

$ 15

$ 20

Montana

$ 25

$ 35

Montana

$ 15

$ 19

Montana

$ 24

$ 32

Montana

$ 40

$ 58

Montana

$ 24

$ 31

Montana

$ 37

$ 51

Montana

$ 63

$ 92

Montana

$ 49

$ 62

Montana

$ 75

$ 103

Montana

$ 127

$ 184

Montana

$ 61

$ 78

Montana

$ 95

$ 130

Montana

$ 160

$ 233

Montana

$ 98

$ 124

Montana

$ 152

$ 208

Montana

$ 256

$ 371

Nebraska

$ 11

$ 14

Nebraska

$ 17

$ 22

Nebraska

$ 26

$ 39

Nebraska

$ 16

$ 21

Nebraska

$ 25

$ 36

Nebraska

$ 42

$ 64

Nebraska

$ 25

$ 34

Nebraska

$ 39

$ 57

Nebraska

$ 66

$ 103

Nebraska

$ 51

$ 69

Nebraska

$ 79

$ 117

Nebraska

$ 133

$ 210

Nebraska

$ 65

$ 88

Nebraska

$ 100

$ 149

Nebraska

$ 168

$ 267

Nebraska

$ 103

$ 142

Nebraska

$ 160

$ 240

Nebraska

$ 269

$ 431

Nevada

$ 12

$ 14

Nevada

$ 18

$ 23

Nevada

$ 29

$ 40

Nevada

$ 18

$ 22

Nevada

$ 26

$ 36

Nevada

$ 42

$ 61

Nevada

$ 29

$ 36

Nevada

$ 42

$ 58

Nevada

$ 67

$ 99

Nevada

$ 58

$ 74

Nevada

$ 85

$ 119

Nevada

$ 135

$ 203

Nevada

$ 74

$ 94

Nevada

$ 107

$ 151

Nevada

$ 171

$ 258

Nevada

$ 118

$ 152

Nevada

$ 172

$ 245

Nevada

$ 275

$ 418

New Hampshire

$ 8

$ 9

New Hampshire

$ 11

$ 14

New Hampshire

$ 18

$ 24

New Hampshire

$ 11

$ 13

New Hampshire

$ 16

$ 21

New Hampshire

$ 27

$ 38

New Hampshire

$ 17

$ 21

New Hampshire

$ 27

$ 34

New Hampshire

$ 44

$ 61

New Hampshire

$ 36

$ 42

New Hampshire

$ 55

$ 71

New Hampshire

$ 91

$ 126

New Hampshire

$ 45

$ 54

New Hampshire

$ 70

$ 90

New Hampshire

$ 116

$ 160

New Hampshire

$ 74

$ 87

New Hampshire

$ 113

$ 146

New Hampshire

$ 188

$ 259

New Jersey

$ 10

$ 11

New Jersey

$ 14

$ 17

New Jersey

$ 22

$ 28

New Jersey

$ 13

$ 15

New Jersey

$ 19

$ 25

New Jersey

$ 32

$ 44

New Jersey

$ 20

$ 24

New Jersey

$ 31

$ 40

New Jersey

$ 51

$ 71

New Jersey

$ 41

$ 49

New Jersey

$ 63

$ 81

New Jersey

$ 104

$ 144

New Jersey

$ 52

$ 62

New Jersey

$ 80

$ 103

New Jersey

$ 132

$ 183

New Jersey

$ 84

$ 100

New Jersey

$ 128

$ 166

New Jersey

$ 212

$ 294

New Mexico

$ 16

$ 19

New Mexico

$ 23

$ 30

New Mexico

$ 38

$ 52

New Mexico

$ 23

$ 28

New Mexico

$ 34

$ 45

New Mexico

$ 54

$ 77

New Mexico

$ 36

$ 45

New Mexico

$ 53

$ 71

New Mexico

$ 85

$ 121

New Mexico

$ 72

$ 89

New Mexico

$ 106

$ 142

New Mexico

$ 172

$ 241

New Mexico

$ 92

$ 113

New Mexico

$ 135

$ 179

New Mexico

$ 217

$ 305

New Mexico

$ 147

$ 180

New Mexico

$ 216

$ 287

New Mexico

$ 350

$ 488

New York

$ 7

$ 8

New York

$ 10

$ 14

New York

$ 17

$ 25

New York

$ 11

$ 13

New York

$ 17

$ 22

New York

$ 28

$ 40

New York

$ 18

$ 22

New York

$ 27

$ 36

New York

$ 45

$ 65

New York

$ 37

$ 46

New York

$ 57

$ 76

New York

$ 93

$ 136

New York

$ 48

$ 59

New York

$ 73

$ 98

New York

$ 120

$ 175

New York

$ 78

$ 97

New York

$ 119

$ 162

New York

$ 198

$ 290

North Carolina

$ 11

$ 14

North Carolina

$ 16

$ 22

North Carolina

$ 26

$ 37

North Carolina

$ 16

$ 21

North Carolina

$ 25

$ 34

North Carolina

$ 41

$ 61

North Carolina

$ 25

$ 33

North Carolina

$ 39

$ 54

North Carolina

$ 66

$ 97

North Carolina

$ 51

$ 65

North Carolina

$ 79

$ 109

North Carolina

$ 132

$ 195

North Carolina

$ 65

$ 83

North Carolina

$ 100

$ 138

North Carolina

$ 167

$ 246

North Carolina

$ 103

$ 132

North Carolina

$ 160

$ 220

North Carolina

$ 268

$ 392

North Dakota

$ 18

$ 24

North Dakota

$ 27

$ 38

North Dakota

$ 44

$ 65

North Dakota

$ 28

$ 37

North Dakota

$ 40

$ 59

North Dakota

$ 63

$ 101

North Dakota

$ 44

$ 60

North Dakota

$ 64

$ 96

North Dakota

$ 101

$ 163

North Dakota

$ 89

$ 123

North Dakota

$ 128

$ 198

North Dakota

$ 203

$ 336

North Dakota

$ 113

$ 157

North Dakota

$ 162

$ 252

North Dakota

$ 256

$ 428

North Dakota

$ 181

$ 255

North Dakota

$ 259

$ 408

North Dakota

$ 409

$ 694

Ohio

$ 11

$ 14

Ohio

$ 17

$ 22

Ohio

$ 26

$ 38

Ohio

$ 16

$ 21

Ohio

$ 25

$ 35

Ohio

$ 41

$ 63

Ohio

$ 25

$ 33

Ohio

$ 39

$ 56

Ohio

$ 65

$ 100

Ohio

$ 51

$ 68

Ohio

$ 78

$ 114

Ohio

$ 131

$ 204

Ohio

$ 64

$ 86

Ohio

$ 99

$ 145

Ohio

$ 165

$ 259

Ohio

$ 102

$ 138

Ohio

$ 157

$ 233

Ohio

$ 264

$ 417

Oklahoma

$ 17

$ 21

Oklahoma

$ 25

$ 33

Oklahoma

$ 41

$ 56

Oklahoma

$ 25

$ 32

Oklahoma

$ 37

$ 50

Oklahoma

$ 59

$ 86

Oklahoma

$ 40

$ 51

Oklahoma

$ 59

$ 80

Oklahoma

$ 94

$ 136

Oklahoma

$ 81

$ 102

Oklahoma

$ 118

$ 161

Oklahoma

$ 190

$ 274

Oklahoma

$ 103

$ 129

Oklahoma

$ 150

$ 204

Oklahoma

$ 240

$ 347

Oklahoma

$ 164

$ 206

Oklahoma

$ 240

$ 326

Oklahoma

$ 386

$ 555

Oregon

$ 8

$ 9

Oregon

$ 11

$ 15

Oregon

$ 18

$ 24

Oregon

$ 10

$ 13

Oregon

$ 16

$ 22

Oregon

$ 27

$ 40

Oregon

$ 17

$ 21

Oregon

$ 26

$ 36

Oregon

$ 43

$ 64

Oregon

$ 34

$ 43

Oregon

$ 53

$ 74

Oregon

$ 89

$ 132

Oregon

$ 43

$ 55

Oregon

$ 67

$ 94

Oregon

$ 112

$ 169

Oregon

$ 70

$ 90

Oregon

$ 108

$ 153

Oregon

$ 182

$ 276

Pennsylvania

$ 11

$ 14

Pennsylvania

$ 17

$ 22

Pennsylvania

$ 26

$ 37

Pennsylvania

$ 17

$ 21

Pennsylvania

$ 26

$ 35

Pennsylvania

$ 43

$ 62

Pennsylvania

$ 27

$ 34

Pennsylvania

$ 41

$ 56

Pennsylvania

$ 69

$ 100

Pennsylvania

$ 54

$ 68

Pennsylvania

$ 84

$ 114

Pennsylvania

$ 140

$ 204

Pennsylvania

$ 69

$ 87

Pennsylvania

$ 106

$ 145

Pennsylvania

$ 178

$ 258

Pennsylvania

$ 111

$ 140

Pennsylvania

$ 172

$ 234

Pennsylvania

$ 288

$ 416

Rhode Island

$ 8

$ 9

Rhode Island

$ 10

$ 13

Rhode Island

$ 17

$ 22

Rhode Island

$ 9

$ 11

Rhode Island

$ 14

$ 19

Rhode Island

$ 24

$ 34

Rhode Island

$ 15

$ 18

Rhode Island

$ 23

$ 31

Rhode Island

$ 39

$ 55

Rhode Island

$ 31

$ 38

Rhode Island

$ 48

$ 63

Rhode Island

$ 81

$ 113

Rhode Island

$ 39

$ 48

Rhode Island

$ 61

$ 80

Rhode Island

$ 103

$ 144

Rhode Island

$ 64

$ 78

Rhode Island

$ 100

$ 131

Rhode Island

$ 168

$ 234

South Carolina

$ 11

$ 14

South Carolina

$ 16

$ 22

South Carolina

$ 25

$ 37

South Carolina

$ 16

$ 20

South Carolina

$ 24

$ 34

South Carolina

$ 40

$ 60

South Carolina

$ 24

$ 32

South Carolina

$ 37

$ 53

South Carolina

$ 61

$ 94

South Carolina

$ 47

$ 62

South Carolina

$ 72

$ 103

South Carolina

$ 119

$ 182

South Carolina

$ 59

$ 78

South Carolina

$ 90

$ 129

South Carolina

$ 148

$ 228

South Carolina

$ 93

$ 122

South Carolina

$ 141

$ 202

South Carolina

$ 232

$ 358

South Dakota

$ 16

$ 21

South Dakota

$ 25

$ 35

South Dakota

$ 40

$ 59

South Dakota

$ 24

$ 33

South Dakota

$ 35

$ 53

South Dakota

$ 56

$ 91

South Dakota

$ 39

$ 53

South Dakota

$ 56

$ 86

South Dakota

$ 89

$ 146

South Dakota

$ 78

$ 109

South Dakota

$ 112

$ 176

South Dakota

$ 179

$ 300

South Dakota

$ 98

$ 139

South Dakota

$ 142

$ 224

South Dakota

$ 225

$ 382

South Dakota

$ 157

$ 225

South Dakota

$ 226

$ 362

South Dakota

$ 359

$ 618

Tennessee

$ 12

$ 14

Tennessee

$ 17

$ 22

Tennessee

$ 27

$ 38

Tennessee

$ 17

$ 21

Tennessee

$ 26

$ 36

Tennessee

$ 44

$ 64

Tennessee

$ 27

$ 34

Tennessee

$ 42

$ 57

Tennessee

$ 70

$ 102

Tennessee

$ 55

$ 69

Tennessee

$ 84

$ 115

Tennessee

$ 141

$ 205

Tennessee

$ 69

$ 88

Tennessee

$ 107

$ 146

Tennessee

$ 178

$ 260

Tennessee

$ 111

$ 140

Tennessee

$ 171

$ 234

Tennessee

$ 287

$ 417

Texas

$ 20

$ 24

Texas

$ 30

$ 39

Texas

$ 48

$ 65

Texas

$ 30

$ 37

Texas

$ 44

$ 59

Texas

$ 70

$ 100

Texas

$ 48

$ 59

Texas

$ 70

$ 94

Texas

$ 112

$ 159

Texas

$ 97

$ 119

Texas

$ 141

$ 188

Texas

$ 225

$ 320

Texas

$ 122

$ 150

Texas

$ 178

$ 238

Texas

$ 284

$ 404

Texas

$ 196

$ 240

Texas

$ 285

$ 380

Texas

$ 456

$ 646

Utah

$ 11

$ 13

Utah

$ 17

$ 21

Utah

$ 27

$ 38

Utah

$ 17

$ 21

Utah

$ 25

$ 34

Utah

$ 40

$ 58

Utah

$ 28

$ 34

Utah

$ 40

$ 54

Utah

$ 64

$ 93

Utah

$ 56

$ 69

Utah

$ 81

$ 112

Utah

$ 129

$ 190

Utah

$ 71

$ 88

Utah

$ 103

$ 142

Utah

$ 163

$ 242

Utah

$ 113

$ 143

Utah

$ 165

$ 230

Utah

$ 262

$ 393

Vermont

$ 11

$ 13

Vermont

$ 16

$ 21

Vermont

$ 25

$ 36

Vermont

$ 16

$ 20

Vermont

$ 24

$ 33

Vermont

$ 40

$ 59

Vermont

$ 25

$ 32

Vermont

$ 39

$ 53

Vermont

$ 65

$ 95

Vermont

$ 51

$ 65

Vermont

$ 79

$ 108

Vermont

$ 133

$ 193

Vermont

$ 65

$ 82

Vermont

$ 101

$ 138

Vermont

$ 169

$ 246

Vermont

$ 105

$ 133

Vermont

$ 163

$ 222

Vermont

$ 274

$ 397

Virginia

$ 13

$ 15

Virginia

$ 19

$ 24

Virginia

$ 31

$ 42

Virginia

$ 20

$ 23

Virginia

$ 29

$ 37

Virginia

$ 45

$ 62

Virginia

$ 32

$ 37

Virginia

$ 46

$ 59

Virginia

$ 73

$ 100

Virginia

$ 65

$ 76

Virginia

$ 94

$ 121

Virginia

$ 150

$ 205

Virginia

$ 83

$ 97

Virginia

$ 120

$ 154

Virginia

$ 191

$ 261

Virginia

$ 134

$ 157

Virginia

$ 195

$ 249

Virginia

$ 311

$ 422

Washington

$ 14

$ 17

Washington

$ 21

$ 28

Washington

$ 35

$ 48

Washington

$ 22

$ 27

Washington

$ 32

$ 44

Washington

$ 51

$ 75

Washington

$ 36

$ 44

Washington

$ 52

$ 71

Washington

$ 82

$ 122

Washington

$ 73

$ 93

Washington

$ 106

$ 149

Washington

$ 169

$ 254

Washington

$ 93

$ 118

Washington

$ 135

$ 191

Washington

$ 215

$ 325

Washington

$ 150

$ 194

Washington

$ 219

$ 313

Washington

$ 349

$ 535

West Virginia

$ 10

$ 13

West Virginia

$ 16

$ 20

West Virginia

$ 24

$ 35

West Virginia

$ 15

$ 19

West Virginia

$ 23

$ 32

West Virginia

$ 39

$ 57

West Virginia

$ 23

$ 30

West Virginia

$ 36

$ 50

West Virginia

$ 61

$ 89

West Virginia

$ 46

$ 59

West Virginia

$ 72

$ 99

West Virginia

$ 121

$ 176

West Virginia

$ 58

$ 74

West Virginia

$ 91

$ 124

West Virginia

$ 153

$ 221

West Virginia

$ 93

$ 118

West Virginia

$ 145

$ 198

West Virginia

$ 244

$ 352

Wisconsin

$ 12

$ 15

Wisconsin

$ 18

$ 24

Wisconsin

$ 27

$ 41

Wisconsin

$ 17

$ 22

Wisconsin

$ 26

$ 38

Wisconsin

$ 44

$ 68

Wisconsin

$ 27

$ 36

Wisconsin

$ 42

$ 61

Wisconsin

$ 70

$ 109

Wisconsin

$ 56

$ 74

Wisconsin

$ 85

$ 125

Wisconsin

$ 143

$ 224

Wisconsin

$ 70

$ 95

Wisconsin

$ 108

$ 159

Wisconsin

$ 181

$ 285

Wisconsin

$ 113

$ 153

Wisconsin

$ 174

$ 258

Wisconsin

$ 291

$ 462

Wyoming

$ 12

$ 14

Wyoming

$ 18

$ 22

Wyoming

$ 29

$ 38

Wyoming

$ 18

$ 22

Wyoming

$ 27

$ 34

Wyoming

$ 43

$ 58

Wyoming

$ 30

$ 35

Wyoming

$ 43

$ 55

Wyoming

$ 69

$ 93

Wyoming

$ 61

$ 72

Wyoming

$ 89

$ 114

Wyoming

$ 142

$ 192

Wyoming

$ 78

$ 91

Wyoming

$ 113

$ 145

Wyoming

$ 180

$ 245

Wyoming

$ 127

$ 148

Wyoming

$ 184

$ 235

Wyoming

$ 293

$ 397

Compare Life Insurance Rates

Ensure you’re getting the best rate for your life insurance. Compare quotes from top providers to find the most affordable life insurance coverage for your needs.

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Insurance Rates

Permanent Life Insurance Rates

Permanent life insurance typically costs more than term life insurance due to its lifelong coverage and additional features. While term life insurance provides coverage for a specific period, permanent life insurance offers coverage for the insured's entire life, along with a cash value component that can grow over time. Permanent life insurance costs are determined by the same factors as term policies — age, health, gender and coverage amount, but also additional features like cash value accumulation, which can increase premiums.

The main types of permanent life insurance are whole life and universal life. Whole life insurance ensures fixed premiums and guaranteed growth in cash value, whereas universal life insurance allows for greater flexibility in both premiums and investment choices. The higher cost of permanent life insurance is attributed to these features, such as lifelong coverage, cash value accumulation and potential dividends in some policies.

These elements provide both a death benefit and a financial tool for savings or investment, making permanent life insurance a more complex and valuable product, resulting in a higher cost.

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MONEYGEEK EXPERT TIP

Permanent life insurance may not be a viable choice for everyone, whether because of the costly premiums or old age. However, if it's feasible for you, given your budget and needs, consider the following reasons why permanent life insurance might be a great choice:

  • They provide a tax-free investment feature you can take advantage of while still alive.
  • They offer flexibility, as whole life insurance can be adjusted to your current financial situation.
  • Permanent life insurance lasts throughout your entire life and does not need renewal.
  • They offer fixed premiums, which means you only pay one set price throughout your life.

What Factors Impact Life Insurance Rates?

The costs of both term and permanent life insurance policies can vary due to factors such as age, gender, health and more. Because everyone is different, no two policies will be the same. For instance, your friend of the same age with the same coverage may pay more or less in premiums.

What Doesn’t Impact Life Insurance Rates?

While many personal characteristics influence the cost of life insurance, there are also several elements that typically do not impact premiums. Among these non-influential factors are:

  • coupleS icon

    Marital Status

    Whether you are single, married, divorced or widowed usually has no bearing on the cost of your life insurance policy.

  • businessOwner icon

    Income Level

    Your earnings or income bracket generally don't affect the premiums, as life insurance is more concerned with covering financial obligations rather than replacing income.

  • family icon

    Children

    The number of children you have is usually not considered in the process of determining your premiums.

  • studentWithALoan icon

    Education Level

    Your educational background or degrees held are not factors that insurers consider when calculating costs.

  • coupleL icon

    Race or Ethnicity

    Insurers in the United States are prohibited from using race or ethnicity to determine premiums.

  • highschoolStudent icon

    Location Within a State

    While state regulations can affect premiums, your specific location within a state, such as your city or neighborhood, typically doesn't impact the cost.

Understanding what does not affect life insurance premiums can allow you to focus on the factors that do matter, such as age, health, lifestyle, coverage amount and policy type.

Compare Life Insurance Rates

Ensure you’re getting the best rate for your life insurance. Compare quotes from top providers to find the most affordable life insurance coverage for your needs.

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Insurance Rates

How To Lower Your Life Insurance Premiums

It may seem like life insurance premiums are set by factors you can’t control, but there are ways you can lower your costs. Follow these tips before applying for life insurance to secure a more affordable policy.

1

Don’t Rush Your Decision

Take your time when choosing a life insurance policy, as it's a long-term commitment that should align with your future needs. Carefully assess your current situation and future goals, considering factors like your family, financial obligations and retirement planning. A well-thought-out decision ensures that you select coverage that provides peace of mind for years to come.

2

Make Sure You’re Getting the Right Type of Coverage

Evaluate both term and permanent life insurance options, as each serves a different purpose. While term life insurance may be more affordable initially, permanent life insurance offers lifelong coverage and a cash value component that may align better with long-term financial goals. Understanding the features and benefits of each type helps in selecting the one that best fits your needs.

3

Shop Around

Don't settle for the first policy offered. Different insurers may weigh your age, gender and health differently, leading to variations in rates. Compare quotes from multiple providers, considering the cost and the insurer's reputation, financial stability and customer service. This approach ensures you find a policy that offers the best value.

4

Get Professional Assistance

If you're uncertain about the type of coverage or insurer to choose, consider seeking professional assistance. Independent agents, who aren't tied to a single company, can provide unbiased advice on providers, coverage amounts and policy types. Their expertise can guide you through the landscape of life insurance, helping you make an informed decision.

5

Buy Your Policy as Early as Possible

While it's essential not to rush the process, purchasing life insurance as early as possible can lead to lower premiums. Age is a significant factor in determining cost, and the younger you are when you buy a policy, the less expensive it tends to be. Balancing the need for careful consideration with the benefits of early purchase can result in substantial savings over the life of the policy.

Life Insurance Cost FAQs

To help you better understand the average cost of life insurance, here are some commonly asked questions that shed light on how these costs are determined and what you might expect to pay.

Expert Advice on Average Cost of Life Insurance

  1. Our study found that for a 20-year term insurance policy, buying five times the death benefit only costs twice as much premium. For example, $100,000 cost $151/year, and $500,000 cost $298. Why doesn’t the premium increase match the coverage increase?
  2. How does inflation factor into life insurance pricing, if at all?
  3. What individual factors have the greatest impact on the price you pay for insurance?
Catherine Valega
Catherine Valega

Certified Financial Planning Prof (CFP), and CAIA (Chartered Alternative Investment Analyst)

Bridgette Long
Bridgette Long

Financial Coach, Insurance Agent, & Managing Broker for Quality Professional Management, Inc

John Lopez
John Lopez

Senior Professor of Practice at C.T. Bauer College of Business at the University of Houston

Charles H Thomas III, CFP®
Charles H Thomas III, CFP®

Founder and President of Intrepid Eagle Finance

Robert Bain
Robert Bain

Director of Insurance at Edelman Financial Engines

Bryan Miranda
Bryan Miranda

Director of Insurance and Investment Advisor Representative at Gerber Kawasaki

Dr. Brian C Payne
Dr. Brian C Payne

Associate Professor of Finance, Banking and Real Estate at University of Nebraska Omaha

Life Insurance
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Best Life Insurance Companies of 2023: A Look at Top Providers

About Melissa Wylie

Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.