Life Insurance Rates By Age

Our life insurance rate comparison charts cover term life insurance rates, the average cost of whole life insurance, life insurance rates by age, and more. Life insurance rates can vary by individual due to their age, gender, health history, and even their driving record. If you're young and healthy, you may be eligible for $100,000 in coverage for as little as $7/month.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Feb 15, 2021

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A life insurance rate comparison chart can help you decide which policy type is best for you by comparing costs side-by-side. Comparing whole and term life insurance quotes will help you make a decision on the right life insurance policy for you.

To show you how different policy choices impact your rates, we’ve put together several handy whole and term life insurance comparisons so you can see how all of your options stack up.

Don’t wait — before you buy life insurance, enter your ZIP code in the FREE quote tool above to get instant quotes from multiple insurers at once.

What are the types of life insurance?

You shouldn’t buy a life insurance policy until you’ve compared all of your options. But, how do you compare life insurance?

Before you dive into costs and life insurance price comparisons, you need to understand the different policy types. Your three main options are term life insurance, whole life insurance, and final expense insurance.

First, let’s take a look at the various types of term and whole life insurance available.

The following table compares the basic features of all three.

Term Life vs Whole Life vs Final Expense Insurance Policy Features
Policy FeaturesTerm Life InsuranceWhole Life InsuranceFinal Expense Insurance
Cash ValueNoneTax-deferred growthNone
CostLess expensiveMore expensiveModerately expensive compared to benefit
Death BenefitCan be level, increasing, or decreasingLevelCan be level, graded, or modified (limited face values $2,000–$25,000)
Length of CoverageSet term, usually one to 30 yearsLifetimeLifetime
Online PurchaseSome policies available for direct purchaseNot availableSome policies available for direct purchase
Online QuotesReadily availableNot easily availableReadily available
Policy LoansNoneLoans can be taken against cash valueNone
PremiumLevel (except an increasing term policy); paid monthly or annually for the life of the termLevel; can be paid for the life of the term or at a higher rate for a shorter periodLevel
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For more in-depth information, be sure to check out our complete guides that can help you decide if term life insurance or whole life insurance is better for you. So, how much is life insurance?

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How can I compare the cost of life insurance?

Once you know the difference between policy types, you can start asking the general questions that brought you to this page:

  • What is the average life insurance cost per month?
  • What is the best and most affordable life insurance?
  • What are the best life insurance rates by age?
  • Who has the best rates on life insurance?

You should be able to find answers to more specific questions like:

  • How much does a $500,000 life insurance policy cost?
  • How much is life insurance for a 55-year-old?

The following charts will help you answer those questions by comparing the average life insurance rates for 2020 by age, gender, and policy type.

How much life insurance do you need?

How much life insurance do I need? There is no one right answer for how much life insurance you may need. There are many considerations, such as:

  • If you have a child, you will need to calculate how much money they will need to pay for their needs, such as a mortgage or college
  • Debts that may need to be paid off
  • Funeral and end of life expenses

You may have already used a life insurance cost calculator to determine how much coverage you need. Now you can see how the prices vary between your coverage options.

How are life insurance rates determined?

Many factors are used to determine how much you pay for life insurance. Factors like your age, general health condition, gender, and if you smoke all go into calculating the price you pay for life insurance.

So, what is the average rate for life insurance? Below, you’ll find a term life insurance rates chart, whole life insurance rate charts, final expense insurance rates, plus a look at how tobacco use affects life insurance costs.

On each chart, you’ll see that female rates are lower than male rates because women have a longer life expectancy than men, according to the World Health Organization.

How does term life vs whole life insurance rates compare by age and gender?

Life insurance policies fall into one of two general categories, term or whole. Term life insurance provides temporary coverage for a set period while whole life insurance provides permanent coverage for as long as you live.

(For more information, read our guides on term life insurance rates and permanent life insurance.)

The following term life insurance rates chart provides monthly average non-smoking rates for a 20-year policy at key ages.

Average Monthly 20-Year Term Life Insurance Rates by Age and Gender
Term Life Insurance Policyholder Age$100,000: Male Average Term Life Monthly Rates$100,000: Female Average Term Life Monthly Rates$250,000: Male Average Term Life Monthly Rates$250,000: Female Average Term Life Monthly Rates$500,000: Male Average Term Life Monthly Rates$500,000: Female Average Term Life Monthly Rates
25$14.53$12.70$23.27$18.72$34.79$27.39
30$14.96$13.22$24.59$20.44$37.39$29.59
35$17.57$15.40$26.09$22.19$40.04$32.19
40$21.40$18.62$33.72$28.49$54.79$45.69
45$26.54$22.97$45.47$37.42$79.19$66.14
50$36.02$29.32$69.59$54.59$126.14$96.99
55$50.98$38.11$105.72$78.97$203.14$143.99
60$84.91$60.20$183.79$131.17$355.39$248.84
65$144.51$97.44$323.42$220.99$625.09$432.84
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As you review term life insurance rates by age you will notice that they tend to climb as you get older. Now, compare those rates with the average cost of whole life insurance rates by age chart.

Average Monthly Whole Life Insurance Rates by Age & Gender
Policyholder Age$100,000: Male Average Monthly Rates$100,000: Female Average Monthly Rates$250,000: Male Average Monthly Rates$250,000: Female Average Monthly Rates$500,000: Male Average Monthly Rates$500,000: Female Average Monthly Rates
25$93.70$84.91$225.12$203.14$444.14$400.19
30$107.71$97.35$260.14$234.24$514.19$462.39
35$128.24$112.93$311.47$273.19$616.84$540.29
40$153.90$132.15$375.62$321.24$745.14$636.39
45$190.79$156.17$467.84$381.29$929.59$756.49
50$234.90$191.66$578.12$470.02$1,150.14$933.94
55$294.84$243.17$727.97$598.79$1,449.84$1,191.49
60$399.24$311.63$988.97$769.94$1,971.84$1,533.79
65$528.00$421.69$1,310.87$1,045.09$2,615.64$2,084.09
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You can see that rates on whole life insurance policies range anywhere from 200 to 600 percent higher than 20-year term policies at the same age and with an equal face value.

(Note: These charts only go to age 65. If you’re looking for term life insurance rates for seniors, read our guide: senior plan life insurance.)

What about smoking vs non-smoking rate comparison?

Your health plays a large factor in determining your life insurance rates. One of the first things life insurers look for is tobacco use. If you smoke, you can expect to pay significantly higher rates.

The following life insurance rates table compares smoking versus non-smoking rates for that same 20-year, $100,000 term policy.

Average Monthly Term Life Insurance Rates by Gender & Tobacco Use
Policyholder AgeAverage Monthly Term Life Insurance Rates for Male Non-SmokersAverage Monthly Term Life Insurance Rates for Male SmokersAverage Monthly Term Life Insurance Rates for Female Non-SmokersAverage Monthly Term Life Insurance Rates for Female Smokers
25$14.53$22.88$12.70$19.40
30$14.96$26.19$13.22$21.66
35$17.57$30.10$15.40$24.27
40$21.40$41.76$18.62$33.58
45$26.54$59.07$22.97$47.59
50$36.02$88.39$29.32$67.86
55$50.98$133.98$38.11$97.96
60$84.91$207.84$60.20$158.17
65$144.51$324.42$97.44$257.96
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Now compare smoking versus non-smoking for a $100,000 whole policy.

Average Monthly Whole Life Insurance Rates by Gender & Tobacco Use
Policyholder AgeAverage Monthly Whole Life Insurance Rates for Male Non-SmokersAverage Monthly Whole Life Insurance Rates for Male SmokersAverage Monthly Whole Life Insurance Rates for Female Non-SmokersAverage Monthly Whole Life Insurance Rates for Female Smokers
25$93.70$115.62$84.91$106.84
30$107.71$133.72$97.35$123.71
35$128.24$157.21$112.93$145.81
40$153.90$185.83$132.15$172.09
45$190.79$224.37$156.17$205.76
50$234.90$277.01$191.66$252.21
55$294.84$349.74$243.17$320.51
60$399.24$466.93$311.63$389.41
65$528.00$600.04$421.69$485.37
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Not only will smoking always result in a higher rate, but some insurers won’t even approve smokers over a certain age. Others limit coverage amounts.

While it’s helpful to see the average term life insurance rates by age, it’s clear that other factors, like smoking, can still impact your life insurance rates considerably.

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How do exam vs no exam rates compare?

To determine your health, most life insurers require a medical exam before approving your policy or setting your rate.

Some insurers offer a no exam policy, which may be beneficial to those with pre-existing medical conditions or an aversion to medical procedures. A no exam policy is a greater risk to the insurer. They pass that risk along to you by charging increased rates.

The following term life insurance tables show the average sample term life insurance rates chart by age for exam versus no exam life insurance policies. All rates are for non-smokers.

Average Monthly Term Life Insurance Rates for Non-Smokers With Exam
Policyholder Age & Gender10-Year/
$100,000 Policy
20-Year/
$100,000 Policy
10-Year/
$250,000 Policy
20-Year/
$250,000 Policy
10-Year/
$500,000 Policy
20-Year/
$500,000 Policy
10-Year/
$1,000,000 Policy
20-Year/
$1,000,000 Policy
20-Year-Old Female$6.92$7.66$8.79$10.00$12.18$13.92$17.50
$21.75
20-Year-Old Male$7.17$9.14$9.62$13.17$14.07$20.74$21.29$34.79
30-Year-Old Female$6.92$8.41$8.79$12.12$12.42$18.19$18.84$29.43
30-Year-Old Male$7.17$9.31$9.62$13.42$14.07$20.69$21.29$35.53
40-Year-Old Female$7.94$10.43$10.87$15.44$16.55$25.26$26.20$43.94
40-Year-Old Male$8.37$11.27$11.71$18.18$18.20$29.36$29.06$52.78
50-Year-Old Female$12.86$18.83$20.48$31.67$35.56$55.78$62.27$103.55
50-Year-Old Male$14.16$22.88$23.81$42.79$41.76$78.75$75.71$146.03
60-Year-Old Female$23.44$37.43$42.18$77.92$76.05$140.83$139.92$269.92
60-Year-Old Male $28.63$54.68$60.13$111.56$112.83$211.13$214.36$406.93
70-Year-Old Female$55.47$128.19$108.34$265.90$200.43$531.87$369.79$1016.72
70-Year-Old Male$79.36$172.38$179.62$406.56$319.34$812.58$609.92$1553.16
80-Year-Old Female$195.21N/A$478.84N/A$951.56N/A$1848.87N/A
80-Year-Old Male$243.60N/A$599.81N/A$1193.50N/A$2275.00N/A
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Compare those rates with the rates for no exam.

Average Monthly Term Life Insurance Rates for Non-Smokers Without Exam
Policyholder Age & Gender10-Year/
$100,000 Policy
20-Year/
$100,000 Policy
10-Year/
$250,000 Policy
20-Year/
$250,000 Policy
10-Year/
$500,000 Policy
20-Year/
$500,000 Policy
20-Year-Old Female$8.04$8.96$10.34$13.09$13.12$18.70
20-Year-Old Male$9.41$9.92$13.92$14.57$18.27$20.88
30-Year-Old Female$8.10$9.14$10.34$13.31$13.05$19.14
30-Year-Old Male$9.41$9.92$13.92$14.79$18.27$21.32
40-Year-Old Female$9.93$12.12$13.96$18.99$17.70$29.67
40-Year-Old Male$10.75$12.67$16.25$21.67$23.75$36.92
50-Year-Old Female$15.87$20.16$22.87$36.46$38.08$65.87
50-Year-Old Male$17.87$24.63$27.67$51.68$45.70$96.06
60-Year-Old Female$27.47$42.26$48.22$90.37$83.13$173.03
60-Year-Old Male$36.14$64.34$68.32$147.70$127.32$286.85
70-Year-Old Female$166.39N/A$406.65N/AN/AN/A
70-Year-Old Male$221.36N/A$544.08N/AN/AN/A
80-Year-Old FemaleN/AN/AN/AN/AN/AN/A
80-Year-Old Male$655.72N/AN/AN/AN/AN/A
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As you can see, no exam rates are higher at every age. Depending on your health, taking the exam could show the insurer that you’re a lower risk and earn you a lower rate.

How do term life vs final expense rates compare?

Final expense insurance (sometimes called burial insurance) is a special type of whole life policy. They offer the same guaranteed, lifetime coverage of a traditional whole life policy, but with much smaller face values.

Face values typically range from $2,000–$25,000, with no medical exam required. The average funeral costs around $7,500, according to the National Funeral Directors Association.

Because final expense policies guarantee acceptance with no medical exam, the insurer assumes you are in a high-risk category. Thus, companies charge high rates relative to the low death benefits to quickly cover their costs and turn a profit.

Now look at how much a much smaller $10,000 final expense policy costs every month:

Average Monthly Final Expense Life Insurance Rates by Gender: $10,000 Policy
Policyholder Age$10,000 Policy: Male Average Monthly Rates$10,000 Policy: Female Average Monthly Rates
40$24.02$20.43
45$27.16$22.65
50$43.20$32.91
55$50.06$38.89
60$57.86$45.98
65$71.02$55.60
70$88.55$69.69
75$114.80$91.51
80$163.18$126.89
85$230.74$181.52
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Many people can get 10 times the term coverage for the same price as a final expense policy. The only drawback is that a term policy expires. You could die after your term ends and receive no payout, but a final expense policy will pay no matter when you die.

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What are the top life insurance companies by market share?

When looking for reputable insurers, the best thing to do is to start with the top insurers in the country. They represent the oldest and largest companies in the industry.

To help in your search, start with the current top-10 providers of life insurance by market share, according to the Insurance Information Institute.

While not all of these companies will be the best fit for you, this list represents some of the best life insurance insurance companies available.

Searching for the cheapest life insurance companies of 2020 might seem like a good idea, but sometimes it’s better to rely on a life insurance company that is considered a market leader.

What is a sample annual life insurance rates chart?

To give you a general idea of how much life insurance will cost you every year, we’ve put together this chart comparing a 20-year, $100,000 policy to a $100,000 whole life policy.

Average Annual Term vs Whole Life Insurance Rates: $100,000 Policy
Policyholder Age & Tobacco UseAverage Annual Term Rates: MaleAverage Annual Term Rates: FemaleAverage Annual Whole Rates: MaleAverage Annual Whole Rates: Female
25-Year-Old Non-Smoker$178.54$160.57$1,124.40$1,018.92
35-Year-Old Non-Smoker$185.04$165.91$1,538.88$1,355.16
45-Year-Old Non-Smoker$267.89$240.25$2,289.48$2,918.04
55-Year-Old Non-Smoker$524.95$406.94$3,538.08$5,060.28
65-Year-Old Non-Smoker$1,273.12$880.66$6,336.00$2,445.24
Average Annual Rates for Non-Smokers$485.91$2,235.31$2,965.32$2,445.24
25-Year-Old Smoker$321.76$248.75$1,387.44$1,282.08
35-Year-Old Smoker$360.23$286.18$1,886.52$1,749.72
45-Year-Old Smoker$637.51$493.20$2,692.44$2,469.12
55-Year-Old Smoker$1,364.09$991.63$4,196.88$3,846.12
65-Year-Old Smoker$3,245.05$2,235.31$7,200.48$2,445.24
Average Annual Rates for Smokers$1,185.73$851.01$3,472.80$3,034.32
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You can see the large differences between term and whole rates, and those for smokers versus non-smokers.

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Life Insurance Rate Comparison Chart: What’s the bottom line?

There is no universal answer to the question “Which life insurance is best?”

The best life insurance policy depends on your financial situation. For example, with term life insurance, the cheapest rates won’t do you any good if you have estate planning needs, as you’ll require permanent coverage.

Rather than trying to figure out what the best life insurance companies are, the thing to do is decide which type of coverage you need, then start looking for the best rate on that type of policy.

We created these charts to help you do just that. How did we do? Do you still have questions? If so, be sure to read one of our many guides on every type of policy discussed here.

Now that you’ve used our life insurance rate comparison charts to get a better idea of how much coverage will cost, get started with personalized quotes from top insurers with our FREE quote tool below.

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