How Much Does Life Insurance Cost? Life Insurance Rates by Age


Most financial advisors recommend life insurance to their clients. Even so, less than half of all Americans do not have a life insurance policy.

Life insurance gives you peace of mind because it takes care of your loved ones financially in the event of your death. Your beneficiaries will receive a lump sum of cash after your passing.

Are you thinking about getting life insurance? If so, there are many questions.

What is the average cost of life insurance? Is it worth the money? What are the different policies?

Keep reading to access our guide to life insurance rates by age so you know what to expect when securing this all-important coverage.

Life Insurance Rates by Age

How much does life insurance cost? Rates rise with age, so it’s best to purchase life insurance at an early age.

The average life insurance cost varies depending on your health and your age when the insurance company writes the policy.

If you are in generally good health and have a healthy lifestyle, you can expect to pay the following rates.

Age 18-35

  • A $250,000 policy costs between $16 and $18 a month.
  • A $500,000 policy costs between $26 and $28 per month.
  • A $1,000,000 policy runs between $42 and $47 per month.

Age 36-45

  • A $250,000 policy costs between $18 and $32 per month.
  • A $500,000 policy costs between $30 and $54 per month.
  • A $1,000,000 policy costs between $50 and $99 per month.

Age 46-55

  • A $250,000 policy costs between $35 and $73 per month.
  • A $500,000 policy costs between $59 and $129 per month.
  • A $1,000,000 policy costs between $108 and $242 per month.

After age 55, rates rise considerably due to the decrease in your life expectancy.

Term Life Insurance Rates by Age

Term life insurance provides protection for your beneficiaries over a term of 10, 15 or 20 years. When the term is up, the insurance company may offer you additional coverage usually at a higher rate.

Term life insurance is generally more affordable than a whole life policy. A male can expect to pay a little bit more than a female when all other parameters are equal. Let’s use a 30-year-term for our example.

Age 30

  • A $250,000 policy is around $14 per month.
  • A $500,000 policy costs between $19 and $23 per month.
  • A $1,000,000 policy costs between $31 and $38 per month.

Age 40

  • A $250,000 policy costs between $18 and $21 per month.
  • A $500,000 policy costs between $28 and $33 per month.
  • A $1,000,000 policy costs between $48 and $58 per month.

Age 50

  • A $250,000 policy costs between $35 and $46 per month.
  • A $500,000 policy costs between $61 and $80 per month.
  • A $1,000,000 policy costs between $110 and $147 per month.

Visit https://simplelifeinsure.com/ for an instant quote today.

We’ve Got You Covered

Now that you’ve seen the life insurance rates by age, are you considering purchasing a life insurance policy? Do your research to get the best coverage at the best rate to protect your family’s future.

Check out the rest of our site for additional financial advice including budgeting, saving money on vacations and paying off debt. Be sure to bookmark our site and check back regularly for updates and helpful information.

Jeff Campbell

Jeff Campbell is a husband, father, martial artist, budget-master, Disney-addict, musician, and recovering foodie having spent over 2 decades as a leader for Whole Foods Market. Click to learn more about me

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