Whole Life Insurance Rates by Age Chart (2026)

Whole life insurance gets more expensive the longer you wait to buy. A 30-year-old woman pays $405 per month for a whole life policy with $500,000 in coverage, while a 60-year-old pays $1,308, more than three times as much. Men pay more than women at every age, and the price gap widens over time. Men pay an average of $428 per month at age 30, $23 more than women, and $1,443 at age 60, $135 more than women.

Women’s whole life insurance rates rise gradually through their 40s, then increase more sharply in their 50s. A $500,000 policy averages $658 per month at age 50 and $918 at age 55, a $260 monthly increase in five years.

Men’s whole life insurance rates follow a similar pattern to women’s but are higher at every age. At 50 years old, a $500,000 policy averages $862 per month for men, 31% more than the $658 average for women.

* Rates shown are for nonsmokers in average health.

Smoking raises whole life insurance rates by about 36% at age 40. For $500,000 in coverage, women who smoke pay $735 per month compared with $540 for nonsmokers, while men who smoke pay $784 compared with $574. The cost difference grows with age, adding hundreds or even thousands of dollars per month at older ages.

Most life insurance companies allow you to apply for nonsmoker rates after you’ve been tobacco-free for at least 12 months, though requirements vary by insurer.

Whole life costs for women who smoke rise sharply after age 50. A $500,000 policy averages $988 per month at age 50 and more than doubles to $2,009 by age 60.

Men who smoke see a similar increase with age. A $500,000 policy averages $1,261 per month at age 50 and rises to $2,199 by age 60.

* Rates shown are for smokers in otherwise average health.

In our analysis, poor health raises whole life insurance rates by 10% to 18% compared with average health, depending on age and coverage level. At age 40, a woman pays $610 per month for $500,000 in coverage in poor health versus $540 in average health, a 13% increase. Men see a similar rate increase, with a $500,000 policy costing $647 monthly in poor health versus $574 in average health.

Coverage amount has a major effect on whole life insurance costs for women in poor health. At age 40, increasing coverage from $100,000 to $1 million raises the average monthly rate from $140 to $1,198.

Men in poor health see the largest dollar increases at higher coverage amounts and older ages. At age 60, $500,000 in coverage averages $1,639 per month, while a $1 million policy costs $3,303.

* Rates shown are for nonsmokers in poor health.

Guaranteed whole life insurance rates average $90 per month for a 65-year-old woman with $15,000 in coverage and $116 for a man. These policies accept all applicants without health questions or a medical exam. Coverage is limited to $25,000 and costs more per dollar of coverage than traditional whole life insurance. Guaranteed whole life is designed primarily to cover final expenses for people who can't qualify for traditional life insurance due to age or health.

Women’s guaranteed life insurance rates range from $20 per month for $5,000 in coverage at age 45 to $380 for $25,000 at age 80. Age and coverage amount are the primary factors affecting your rate.

Average monthly guaranteed whole life costs for men range from $24 at age 45 for a $5,000 policy to $489 at age 80 for a $25,000 policy.

USAA has the lowest whole life insurance rates for a $500,000 policy across almost every age group in our analysis. The exceptions are ages 50, 55 and 60, where Gerber Life has the lowest premium. Price differences between insurers grow with age. At 75, USAA averages $3,471 per month, compared with $5,288 for Gerber Life, a difference of $1,817. While Gerber Life is competitively priced for younger buyers, it becomes the most expensive option at age 70. All three insurers show sharp premium increases after age 60, with monthly costs roughly doubling each decade. Purchasing a policy before age 50 can help you avoid the steepest increases.

* Rates shown are based on quotes for nonsmokers in average health with a $500,000 whole life policy.

A 40-year-old man pays $59 per month on average for a 20-year, $500,000 term life policy compared with $574 per month for the same amount of whole life coverage. Whole life costs more because it provides permanent coverage, a guaranteed death benefit and cash value that builds over time.

• Whole life coverage never expires as long as you pay premiums, while term policies end after 10, 20 or 30 years.
• Your whole life premiums build cash value that grows tax-deferred and can be accessed through policy loans (which accrue interest) or partial withdrawals (which may reduce your death benefit). Cash value growth isn't guaranteed and depends on the insurance company's performance and policy terms.
• The death benefit is guaranteed with a whole life policy, regardless of when you pass away, not just during a specific term period.

Term life is the more affordable option for replacing income during your working years. Whole life is better if you need permanent coverage for final expenses or estate planning, want tax-deferred cash value or have a lifelong dependent. If you only need income replacement for a set period, term life is the better value.

Learn more: Term vs. Whole Life Insurance

Whole life insurance serves different goals than term life. Buyers use it primarily for final expenses, estate planning or leaving a financial legacy rather than replacing income during working years. Funeral and burial costs average $7,000 to $12,000 nationally according to the National Funeral Directors Association, and estate planning needs can range from $25,000 to well over $1,000,000 depending on assets and heirs. Identifying a specific goal before choosing a coverage amount prevents you from buying more than needed or leaving beneficiaries short.

If you only want to cover final expenses, you only need $10,000 to $25,000, which a guaranteed issue or simplified issue policy can provide without a medical exam. If you want to build cash value, fund a trust or leave an inheritance, consider the $100,000, $250,000, $500,000 and $1,000,000 coverage tiers on this page. Our life insurance calculator can help you estimate the right amount of coverage based on your financial situation and goals.