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If you’re shopping for life insurance, it's worth getting a handful of quotes as rates can vary dramatically among applicants, insurers and policy types. For a snapshot of those prices, NerdWallet compared average life insurance rates for men and women at different ages and health tiers, across multiple coverage options.
How much is life insurance?
The average cost of life insurance is $26 a month. This is based on data provided by Policygenius, a life insurance brokerage, for a 40-year-old buying a 20-year, $500,000 term life policy, which is the most common term length and amount sold.
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How life insurance rates are determined
Life insurance premiums are based primarily on life expectancy. In general, the younger and healthier you are, the cheaper your premiums.
Insurers typically classify applicants using terms like super preferred, preferred and standard, with "super preferred" being the healthiest category. Insurers then calculate premiums based on your risk class.
Each insurer has its own evaluation process — known as life insurance underwriting — and weighs factors differently. That’s why it’s a good idea to compare quotes from multiple insurers.
These are the main things insurers assess when setting your rate:
- Your age. Generally, younger people pay less for life insurance. This is because as you age, your life expectancy goes down, and the likelihood of your insurer having to pay out your policy goes up. That’s why it’s wise to buy life insurance as early as possible; the longer you wait, the more your rates will increase based solely on age. You can still find the best life insurance for seniors by assessing your overall needs and shopping around.
- Your gender. Because women have longer life expectancies, women will almost always pay less than men of the same age and health. Life expectancy in the U.S. is 81.4 years for women and 76.5 years for men, according to the latest data from the Centers for Disease Control and Prevention.
- Your smoking status. Since smokers are at a higher risk of developing health issues such as respiratory disease, life insurance for smokers tends to be more expensive.
- Your health. This includes any pre-existing conditions, as well as your blood pressure and cholesterol levels. Insurers will also look at your height and weight.
- Your family medical history. Your insurer may ask if you have a family history of serious health conditions such as heart disease, cancer or diabetes.
- Your driving record. If you have DUIs, DWIs and major traffic violations on your record, your insurer might consider you a high-risk life insurance applicant and charge higher rates.
- Your occupation and lifestyle. If you have a hazardous or high-risk job, such as a police officer working on the bomb squad or a race car driver, you can expect to pay more than someone with a desk job. Similarly, if you participate in risky activities like skydiving, you might be charged a higher premium.
The type of life insurance you choose also affects the average cost of life insurance:
- Term life insurance is the least expensive because it lasts a set number of years and simply offers coverage without building cash value.
- Permanent life insurance typically lasts a lifetime and includes a cash value component that allows you to borrow against your policy or withdraw funds later in life. Because of the cash value and the potentially longer coverage period, you'll pay substantially more for permanent policies than for term life policies.
Finally, adding life insurance riders to your policy can increase your premium. For example, a child rider worth $10,000 can cost an additional $50 to $75 per year, according to Quotacy, a life insurance brokerage.
These factors have no effect on the rate you’re offered:
- Your ethnicity, race and sexual orientation. While insurers assess your age and gender, they can’t discriminate based on these elements of diversity.
- Your credit score. Although your credit score won’t affect your life insurance premium, you can expect your insurer to look at your credit history going back seven years. If you have a bankruptcy on your record, you might be deemed to have a higher risk of mortality, which may affect premiums.
- Your marital status. Unlike many auto insurance companies, life insurers don’t have different rates for married applicants.
- The number of life insurance policies you have. Just know that you need to justify purchasing large amounts of coverage across multiple policies.
- The number of beneficiaries you name. Whether you have one life insurance beneficiary or five, this won’t impact your rate.
Average cost of term life insurance by age
These annual life insurance rates are based on a $500,000, 20-year term life insurance policy for preferred applicants in good health.
Term life insurance rates for nonsmokers
| Average annual rates for men | Average annual rates for women | |
|---|---|---|
| 20 | $212 | $176 |
| 30 | $215 | $184 |
| 40 | $330 | $280 |
| 50 | $815 | $640 |
| 60 | $2,342 | $1,650 |
| 70 | $9,702 | $7,785 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | ||
Term life insurance rates for smokers
| Average annual rates for men | Average annual rates for women | |
|---|---|---|
| 20 | $749 | $554 |
| 30 | $795 | $645 |
| 40 | $1,482 | $1,175 |
| 50 | $3,495 | $2,560 |
| 60 | $8,435 | $6,002 |
| 65+ | $13,160 | $9,809 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | ||
Average cost of whole life insurance by age
These annual life insurance rates are based on a $500,000 policy for preferred applicants in good health.
Whole life insurance rates for nonsmokers
| Average annual rates for men | Average annual rates for women | |
|---|---|---|
| 20 | $2,548 | $2,260 |
| 30 | $3,662 | $3,292 |
| 40 | $5,524 | $4,967 |
| 50 | $8,749 | $7,782 |
| 60 | $14,517 | $12,670 |
| 70 | $24,797 | $21,766 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | ||
Whole life insurance rates for smokers
| Average annual rates for men | Average annual rates for women | |
|---|---|---|
| 20 | $3,325 | $2,973 |
| 30 | $4,923 | $4,492 |
| 40 | $7,533 | $6,915 |
| 50 | $12,371 | $11,068 |
| 60 | $21,107 | $18,427 |
| 70 | $34,922 | $31,798 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | ||
🔍 Let's take a closer look...
Say you're a healthy 40-year-old male looking for a $500,000 policy to cover a mortgage and college tuition for your kids. 🏠 📚
Term life ⏳
A 20-year term life policy would cost you $330 per year, and provide coverage for those major financial needs.
🚬 If you're a smoker, that price jumps to $1,482.
Either way, your rate is locked in for the full 20 years as long as you keep up with premiums.
Whole life 🔒
You'd pay $5,524 per year for a whole life policy that builds cash value over time.
🚬 If you smoke, you can expect to pay around $7,533 each year.
Premiums don't change, which is why it's a good idea to apply for coverage while you're as young and healthy as possible.
Cost of life insurance without a medical exam
If you want to skip the life insurance medical exam, here’s what you can expect to pay annually for a $500,000, 20-year, no-exam term life policy.
No-exam life insurance rates for nonsmokers
| Age and gender | Preferred plus | Preferred | Standard |
|---|---|---|---|
| Woman, 20 | $176 | $211 | $318 |
| Woman, 30 | $184 | $215 | $329 |
| Woman, 40 | $280 | $341 | $494 |
| Woman, 50 | $640 | $756 | $1,135 |
| Man, 20 | $212 | $243 | $376 |
| Man, 30 | $215 | $276 | $399 |
| Man, 40 | $330 | $409 | $640 |
| Man, 50 | $815 | $975 | $1,500 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | |||
No-exam life insurance rates for smokers
| Age and gender | Preferred | Standard |
|---|---|---|
| Woman, 20 | $554 | $662 |
| Woman, 30 | $645 | $809 |
| Woman, 40 | $1,176 | $1,420 |
| Woman, 50 | $2,559 | $3,389 |
| Man, 20 | $753 | $790 |
| Man, 30 | $795 | $975 |
| Man, 40 | $1,482 | $2,060 |
| Man, 50 | $3,495 | $4,364 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | ||
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Average cost of term life insurance by risk class
These are the average annual life insurance rates for a $500,000, 20-year term life policy that reflect different risk classes.
Term life insurance rates for nonsmokers across risk classes
| Age and gender | Preferred plus | Preferred | Standard |
|---|---|---|---|
| Woman, 20 | $176 | $211 | $318 |
| Woman, 30 | $185 | $215 | $329 |
| Woman, 40 | $280 | $341 | $495 |
| Woman, 50 | $640 | $756 | $1,135 |
| Woman, 60 | $1,649 | $1,885 | $2,975 |
| Woman, 70 | $8,008 | $8,940 | $11,084 |
| Man, 20 | $213 | $244 | $375 |
| Man, 30 | $215 | $275 | $400 |
| Man, 40 | $331 | $411 | $641 |
| Man, 50 | $816 | $975 | $1,501 |
| Man, 60 | $2,347 | $2,647 | $4,196 |
| Man, 70 | $9,703 | $11,015 | $14,885 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | |||
Term life insurance rates for smokers across risk classes
| Age and gender | Preferred | Standard |
|---|---|---|
| Woman, 20 | $554 | $661 |
| Woman, 30 | $645 | $808 |
| Woman, 40 | $1,176 | $1,420 |
| Woman, 50 | $2,561 | $3,390 |
| Woman, 60 | $9,942 | $7,427 |
| Woman, 65+ | $9,655 | $12,555 |
| Man, 20 | $751 | $791 |
| Man, 30 | $796 | $976 |
| Man, 40 | $1,482 | $2,061 |
| Man, 50 | $3,495 | $4,366 |
| Man, 60 | $8,454 | $10,946 |
| Man, 65+ | $13,136 | $15,000 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | ||
Average cost of life insurance by term length
These annual life insurance rates are based on a $500,000 term life policy for a nonsmoking 40-year-old applicant in good health.
Cost of term life insurance for nonsmokers for various term lengths
| Term length | Average annual rate for men | Average annual rate for women |
|---|---|---|
| 10 years | $201 | $175 |
| 20 years | $331 | $281 |
| 30 years | $580 | $256 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | ||
Cost of term life insurance for smokers for various term lengths
| Term length | Average annual rate for men | Average annual rate for women |
|---|---|---|
| 10 years | $894 | $720 |
| 20 years | $1,481 | $1,175 |
| 30 years | $2,475 | $1,751 |
| Source: LifeStein.com. Lowest three rates for each age averaged. Data valid as of February 13, 2026 and rates are subject to change. | ||
How to get affordable life insurance
Many of the factors that go into your life insurance premium are out of your control, such as your age and health at the time of purchase. But there are steps you can take to lower your premium and get the most affordable life insurance.
- Choose term life insurance. It's the simplest and cheapest type of policy, and it’s sufficient for most people. It lasts a set number of years, and it’s designed to cover you while you have financial dependents or obligations, such as paying off a mortgage or raising children.
- Opt to take the medical exam. If you’re relatively healthy, it’s worth picking a policy that requires a medical exam. It's similar to a physical — a technician will come to your home and ask about your medical history, record metrics like your blood pressure and weight and take blood and urine samples to check your nicotine, cholesterol and glucose level. Without these details, the insurer has to take on the risk of the unknown, which is why no-exam policies tend to be more expensive.
- Buy a policy as soon as you need it. Life insurance companies reserve their best rates for young, healthy applicants, so it’s a good idea to buy coverage as early as possible if you know you need it. As you age, your risk of running into health issues goes up, and your life expectancy goes down.
- Try to quit smoking. Using tobacco and nicotine-based products is linked to a host of health issues, such as cancer, respiratory disease and diabetes. Smoking is also the leading cause of preventable death in the U.S., according to the American Lung Association. For this reason, smokers can pay six to ten times more for life insurance.
- Consider rounding up your coverage. Just like buying in bulk, you might save by purchasing a slightly higher amount of coverage. For example, you could score a discount if you buy $250,000 in coverage, rather than $200,000. Once you’ve determined how much life insurance you need, ask insurers about their “benefit tiers” or thresholds for premium discounts.
- Manage any pre-existing medical conditions. If you can prove you’re managing your condition by going to regular checkups, taking your medication as directed and following your doctor’s orders, you might be able to score standard or preferred rates.
- Shop around. With more than 800 life insurance companies in the U.S., our advice is to let insurers compete for your business. Comparing quotes from multiple insurers is one of the most effective ways to find an affordable life insurance policy.
* Sample rates provided by LifeStein.com, an online life insurance brokerage. Note that smoker rates reflect prices for cigarette smokers.
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- 1. Centers for Disease Control and Prevention. Mortality in the United States, 2024. Accessed Apr 1, 2026.
- 2. American Lung Association. Health Effects. Accessed Apr 1, 2026.
