Quick Answer
$20-30/month for most people
Life insurance costs depend on your age, health, coverage amount, and policy type. A healthy 30-year-old pays $20-30/month for a $500,000 term policy, while a 50-year-old pays $85-150/month for the same coverage.
New to this topic? Start with our Hub Link Life Insurance Guide .
Average Life Insurance Rates by Age
| Age | $250K/20yr | $500K/20yr | $1M/20yr |
|---|---|---|---|
| 25 | $12/mo | $18/mo | $28/mo |
| 30 | $14/mo | $22/mo | $35/mo |
| 35 | $17/mo | $28/mo | $48/mo |
| 40 | $24/mo | $42/mo | $72/mo |
| 45 | $38/mo | $65/mo | $115/mo |
| 50 | $58/mo | $98/mo | $178/mo |
| 55 | $88/mo | $152/mo | $285/mo |
| 60 | $142/mo | $248/mo | $468/mo |
Rates based on preferred non-smoker health class. Actual rates vary by carrier.
Factors That Affect Life Insurance Cost
Five main factors determine your premium: age (rates increase 8-10% per year of age), health status (smokers pay 2-3x more), coverage amount, policy length, and policy type (term vs. permanent).
1 Age 2 Health 3 Coverage Amount 4 Policy Length 5 Policy Type
Term vs. Permanent Life Insurance Costs
| Policy Type | 30-Year-Old | 40-Year-Old | 50-Year-Old |
|---|---|---|---|
| 20-Year Term ($500K) | $22/mo | $42/mo | $98/mo |
| 30-Year Term ($500K) | $32/mo | $65/mo | $165/mo |
| Whole Life ($500K) | $280/mo | $385/mo | $545/mo |
| Universal Life ($500K) | $195/mo | $275/mo | $410/mo |
Based on preferred non-smoker rates from top 10 carriers.
How to Get the Cheapest Life Insurance
Compare quotes from at least 3-5 carriers. Consider no-exam policies for convenience. Buy young — every year you wait costs 8-10% more. Improve your health class by quitting smoking (reclassified after 12 months).
Cost FAQ
What is the cheapest life insurance per month?
Term life insurance starts at $12-15/month for a healthy 25-year-old with $250,000 coverage.
Does life insurance get more expensive as you age?
Yes. Rates increase approximately 8-10% for each year of age. A policy at 30 costs roughly half what it costs at 40.
Looking at specific coverage amounts? See Daisy Chain life insurance costs for detailed rate breakdowns.